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Income tax refunds to be sent to taxpayers in 7-10 days

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IncomeTaxLogoThe Income Tax Department will now send refunds to taxpayers in a short time of 7-10 days as its latest technology upgrade of electronic and Aadhaar-based ITR verification has begun on a successful note.

According to report, the latest initiative to verify an income tax return (ITR) by Aadhaar or other bank database has received a positive response from ITR filers. Hence, the department was able to process and send the refunds to bank accounts of eligible taxpayers in less than 15 days for the Assessment Year 2015-16.

According to statistics, the I-T Department received 2.06 crore returns on its e-filing portal as on 7th September, 2015 (last date for ITR filing), It witnessed an increase of 26.1% over the previous year.

 

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