The Income Tax Department will now process and send refunds in a short time of 7-10 days as its latest technology upgrade of electronic and Aadhaar-based ITR verification.
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.
This is surely the way forward in the administration of tax affairs in the country
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
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 which is top good news for taxpayers.