Your wait for tax refund will be reduced, this is the scheme of the government

Income Tax Refund: If everything goes well, the process of getting the income tax refund will be quick. The tax department is planning to reduce the average processing time. According to a report in Business Standard, this time is being considered to be reduced to 10 days from the current 16 days. The new timeline is expected to be implemented during the current financial year, the report said.


Balwant Jain, an income tax and investment expert, said that the refund does not come immediately but only after the Income Tax Department verifies the details of tax already paid from the information available to it. At the same time, Abhishek Soni, CEO and co-founder of Tax2Win said – It usually takes 20-45 days to get your refund after filing your ITR and verification. However, in this financial year 2022-23, the tax department has expedited the processing of ITR by using advanced technology. In such a situation now 16 days are left in the process.

Let us tell you that the last date for filing ITR without penalty was 31 July 2023. More than 6.77 crore ITRs have been filed till date. This was 16.1% higher than the total ITR for AY 2022. Let it be known that 5.83 crore ITRs were filed till 31 July 2022.