Many happy returns

Updated: Jul 25 2014, 07:40am hrs
E-filing of income-tax returns is increasing across categories and the growth is significant in case of ITR 1, which is meant for individuals having salary/pension income; or individuals having one house property income; or individuals having income from other sources (excluding lottery income and income from race horses). With growing e-filing of returns, the average time of processing has now reduced from 14 months during the manual processing to about 40 days now, which will save the government the interest paid for the delay in refund.

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