Quick Summary
In a significant boost to taxpayer morale, the government announced that income tax refunds amounting to approximately Rs 3.08 lakh crore were disbursed between April and November this year. This marks a 46% increase compared to the same period last year, according to the Department of Revenue's year-end report released on Tuesday. Unprecedented ITR Filing Statistics By November 22, 8.50 crore Income Tax Returns (ITRs) were filed, reflecting a 7.32% increase compared to the corresponding perio
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FAQ :
Income tax refunds amounting to approximately £3.08 lakh crore were disbursed between April and November 2024.
There was a 46% increase in income tax refunds compared to the same period last year.
By November 22nd, 8.50 crore Income Tax Returns (ITRs) had been filed.
Advancements such as TIN 2.0 (the upgraded income tax e-filing portal), pre-filled ITRs, and updated return options have simplified tax processes.
In fiscal year 2025, 21% of all ITRs were processed the same day they were filed, and 26.35% were processed within a week.
Between January 1 and October 13, over 1.3 lakh demands worth £5 lakh crore were resolved, with a Demand Management Facilitation Centre operating six days a week.
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