NEW DELHI: Over six of the nearly seven crore income tax returns (ITRs) filed for financial year 2022-23 have been processed, with a little under 2.5 crore refunds already issued, the finance ministry said on Tuesday. There are around 12 lakh verified ITRs where the department has sought further clarification.
“The department’s efforts to provide seamless and expeditious taxpayer services are being continuously strengthened. In line with the same, average processing time of ITRs (after verification) has been reduced to 10 days for returns filed for AY 2023-24 (FY23) compared to 82 days for AY 2019-20 and 16 days for AY 2022-23,” an official statement said.
It said that 6.84 crore returns had been verified up to September 5, and as a result, the 14 lakh remaining returns have not been processed. It has urged taxpayers to complete the verification process. The tax department said there are several cases where returns have been processed and refunds have also been determined but the process can’t be completed as taxpayers are yet to validate their bank accounts.
“The department’s efforts to provide seamless and expeditious taxpayer services are being continuously strengthened. In line with the same, average processing time of ITRs (after verification) has been reduced to 10 days for returns filed for AY 2023-24 (FY23) compared to 82 days for AY 2019-20 and 16 days for AY 2022-23,” an official statement said.
It said that 6.84 crore returns had been verified up to September 5, and as a result, the 14 lakh remaining returns have not been processed. It has urged taxpayers to complete the verification process. The tax department said there are several cases where returns have been processed and refunds have also been determined but the process can’t be completed as taxpayers are yet to validate their bank accounts.