Number of e-filed Income Tax Returns in Financial Year 2016-17 (till 28.02.2017) was 4.21 Cr: The total amount of refund issued in the current fiscal (including refund arising out of rectification, appeal effect etc.) is 1,48,459 crore (till 28.02.2017) https://www.taxtmi.com/news?id=17624 Processing and issuance of income-tax refunds have been prioritised under a statutory requirement to process returns within one year of the end of the financial year in which they are filed. Administrative measures-automation, streamlined e-filing, and proactive monitoring-have shortened processing times so that a high proportion of refunds are issued within 30 and 60 days; priority is given to small taxpayers and specific instructions address clearing small non-scrutiny backlog refunds without adjustment against outstanding demands. en-us Fri, 17 Mar 2017 18:31:06 +0530 Fri, 17 Mar 2017 18:31:06 +0530 TaxTMI RSS Generator Number of e-filed Income Tax Returns in Financial Year 2016-17 (till 28.02.2017) was 4.21 Cr: The total amount of refund issued in the current fiscal (including refund arising out of rectification, appeal effect etc.) is 1,48,459 crore (till 28.02.2017) https://www.taxtmi.com/news?id=17624 Processing and issuance of income-tax refunds have been prioritised under a statutory requirement to process returns within one year of the end of the financial year in which they are filed. Administrative measures-automation, streamlined e-filing, and proactive monitoring-have shortened processing times so that a high proportion of refunds are issued within 30 and 60 days; priority is given to small taxpayers and specific instructions address clearing small non-scrutiny backlog refunds without adjustment against outstanding demands. News - Fri, 17 Mar 2017 18:31:06 +0530 https://www.taxtmi.com/news?id=17624