TaxTMI 
TaxTMI 
Expeditious issue of Refunds is a High Priority for the Central Board of Direct Taxes (CBDT); Over 4.19 crore Income Tax Returns (ITRs) processed and over 1.62 crore refunds issued during the Current Financial Year up to 10th February, 2017
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....xpeditious issue of Refunds is a High Priority for the Central Board of Direct Taxes (CBDT); Over 4.19 crore Income Tax Returns (ITRs) processed and over 1.62 crore refunds issued during the Current Financial Year up to 10th February, 2017 <br>News and Press Release<br>Dated:- 13-2-2017<br><BR>The Centralised Processing Centre (CPC) of the Income Tax Department (ITD) at Bengluru has already proces....
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....sed over 4.19 crore Income Tax Returns (ITRs) and issued over 1.62 crore refunds during the current financial year up to 10th February, 2017. The amount of refunds issued at ₹ 1.42 Lakh Crore is 41.5% higher than the corresponding period last year. As a result of emphasis on expeditious issue of refunds, 92% of all Income Tax returns were processed within 60 days demonstrating CBDT's commit....
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....ment to faster and more efficient taxpayer service. Of the refunds issued, 92% are below ₹ 50,000 due to the high priority given to expeditious issue of refunds to small taxpayers. Only 2% of refunds less than ₹ 50,000 are remaining to be issued. Majority of these cases relate to recently filed ITRs or where the taxpayer's response to the Department is awaited. Taxpayers reposed faith....
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.... in CBDT's e-governance initiatives by filing electronically a whopping 4.01 Cr ITRs till 10th February 2017 representing an increase of 20% over the previous year. Also, more than 60 lakh other online forms were filed with an increase of nearly 41% compared to the previous year. Taxpayers are advised to verify and update their email address and mobile number on the e-filing website to receive el....
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....ectronic communication. CBDT is committed to ensuring best possible taxpayer services through its e-governance programs and increasing the coverage and scope of electronic filing and processing of various forms and applications.<BR> News - Press release - PIB....