1. Income tax refunds to be sent to taxpayers in 7-10 days after Aadhaar card success

Income tax refunds to be sent to taxpayers in 7-10 days after Aadhaar card success

In what could be a good news for lakhs of taxpayers, the Income Tax Department will now process and send income tax refunds in a short time of 7-10 days as its latest technology upgrade of electronic and Aadhaar-based ITR verification has begun on a successful note.

By: | New Delhi | Updated: September 15, 2015 9:12 AM
income tax

The Income-Tax Department’s latest initiative to verify an Income Tax Return (ITR) by Aadhaar or other bank database has received positive response from ITR filers and has had a knock-on effect on refunds. (Express Photo)

In what could be a good news for lakhs of taxpayers, the Income Tax Department will now process and send income tax refunds in a short time of 7-10 days as its latest technology upgrade of electronic and Aadhaar-based ITR verification has begun on a successful note.

The department’s latest initiative to verify an Income Tax Return (ITR) by Aadhaar or other bank database has received positive response from ITR filers because of which the taxman, for Assessment Year 2015-16, was able to process and send refunds to bank accounts of eligible taxpayers in less than 15 days time.

“The days are gone when getting an Income-Tax refund used to take months or in some cases even a few years. The new electronic verification e-filing system has proved to be very customer-friendly and as a token of thanks to the taxpayers, the department is working to ensure their refunds are sent in a week’s time or a maximum of ten days.

“This is surely the way forward in the administration of tax affairs in the country,” a top officer of the Income-Tax Department involved in these operations said.

According to latest statistics, the department received 2.06 crore returns on its e-filing portal as on September 7, 2015 (last date for ITR filing), which is an increase of 26.12 per cent over the last year when 1.63 crore returns were filed online.

The department’s Central Processing Centre (CPC) as on September 7 processed 45.18 lakh returns and issued refunds to 22.14 lakh tax payers relating to assessment year 2015-16, it added.

During this period, the department electronically verified over 32.95 lakh e-returns.

The data added that peak filing rate touched 3,475 returns per minute this time as compared to 2,901 returns per minute last year.

As per some testimonials received by the department from taxpayers, also accessed by PTI, many have reported that they received their refunds in only 11 or 13 days time from the day of filing their ITR.

  1. A
    Akshay
    Sep 14, 2015 at 10:36 am
    I have not received refund for AY 2014-15. Now my heart is burning that people are getting refunds for AY 2015-16. what the f***
    Reply
    1. S
      sekhar
      Sep 14, 2015 at 11:33 am
      Good news a sign of effective efficient management -in the days of FMs like great Pranab/Chidu these returns used to come after one year at least. However I will verify and confirm the authenticity of the news after I got my refund only.
      Reply
      1. K
        K N
        Sep 14, 2015 at 11:27 am
        Thanks to technology and political will it is really a historical MILESTONE.
        Reply
        1. N
          Narendra M
          Sep 13, 2015 at 5:19 pm
          (1) While it is true that in case of ried taxpayers who are e-filing Income Tax Returns, the refunds are processed quickly and amounts credited to taxpayers’ accounts, but in case of other esses, the response of the Income Tax Department (ITD) is not that quick. (2) I am a senior citizen and since my income is below threshold limit and since tax refund is due to me I was advised to file an e-return. I filed e-return for essment year (AY) 2015-16. Central Processing Cell (CPC) of ITD in Bengaluru advised me that tax refund is due to me. But since my earlier essment has not been completed (which is not my fault any way) CPC advised me to write to my Tax essing officer. (3) I made enquiries with some friends who too have faced difficulty in getting tax refunds. Their information was that if Annual TDS returns filed by those who deduct tax at source are not verified by the ITD, there are very good chances of dela refunds. Incidentally, I too have found out that in case two years (AY 2010-11 & AY 2011-12) my tax essments have remained incomplete for non-credit of TDS. Obviously the ITD has to do some homework in case of all pending essments.
          Reply
          1. T
            t p
            Sep 13, 2015 at 6:38 pm
            If tax rates are reduced, maximum 20 % , then no of tax-payers would increase substantially resulting in better growth in amount of tax collected.
            Reply
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