Income Tax Return Processing Time: AY 2023-24

Income Tax Return Processing Time: AY 2023-24

As the due date to file ITR for AY 2023-24 is coming closer, many taxpayers are curious to know about the Income Tax Return processing time. Read on to find

As the due date to file ITR for AY 2023-24 is coming closer, many taxpayers are curious to know about the Income Tax Return processing time. Read on to find

Generally, the total time required for Income tax Return processing is 20-45 days.

Generally, the total time required for Income tax Return processing is 20-45 days. 

However, the ITR processing time can be less for some taxpayers.

However, the ITR processing time can be less for some taxpayers. 

Recent updates on the ITR e-filing website has reduced the time required for processing of ITRs.

Recent updates on the ITR e-filing website has reduced the time required for processing of ITRs. 

To ensure faster processing of returns, taxpayers should complete the verification as soon as possbile.

To ensure faster processing of returns, taxpayers should complete the verification as soon as possbile. 

Once you verify the ITR, the Income Tax Department processes it and sends an intimation under Section 143(1) of the Income Tax Act.

Once you verify the ITR, the Income Tax Department processes it and sends an intimation under Section 143(1) of the Income Tax Act. 

This whole process may take 20-45 days from the day of e-verification or the receipt of ITR-V by the CPC.

This whole process may take 20-45 days from the day of e-verification or the receipt of ITR-V by the CPC. 

As on June 16, over 41 lakh ITRs have been filed and more than 37 lakh returns have been verified by taxpayer. The department has also processed 3949 ITRs.

As on June 16, over 41 lakh ITRs have been filed and more than 37 lakh returns have been verified by taxpayer. The department has also processed 3949 ITRs. 

If you haven’t filed your return yet, try to do it as soon as possible before the due date.

If you haven’t filed your return yet, try to do it as soon as possible before the due date. 

Next: Individual Income Tax Return Due Date

Next: Individual Income Tax Return Due Date