Time Taken In Processing Income Tax Refunds Down To An Average 17 Days In 2024 From 93 Days In 2013

With nan income taxation filing play underway, taxpayers should return statement that nan mean number of days for processing of refunds has travel down importantly complete nan years, moreover arsenic nan worth of refunds has risen significantly.  
 
In 2024, income taxation refunds were issued successful an mean 17 days arsenic compared to 93 days taken successful 2013, marking an 81% alteration successful number of days taken to rumor these. The worth of refunds besides roseate importantly by 474% to Rs 4,76,743 crore successful FY25 compared to Rs 83,008 crore successful FY14.
 
Sources constituent retired that this monolithic summation successful taxation refunds and alteration successful number of days to rumor refunds is owed to improvements successful taxation administration, particularly pinch nan take of integer infrastructure including end-to-end online filing and faceless appraisal that enables faster and much meticulous processing of income taxation returns.
 
"The preamble of pre-filled returns, automation successful refund processing, real-time TDS Adjustments, and online grievance redress mechanisms has led to reduced delays and improved payer experience," they further explained.

Income taxation refunds arsenic a proportionality of nan gross taxation collected besides roseate to 17.6% successful FY25 from 11.5% successful FY14. "Growth successful refunds arsenic proportionality of gross taxation collected is simply a reflection of accrued formalisation and voluntary information successful nan taxation system," sources said, adding that arsenic nan payer guidelines expands and beforehand taxation payments and TDS mechanisms deepen, excess remittances go much common.
 
"The increasing measurement and stock of refunds are frankincense not simply a statistical inclination but a meaningful awesome of systemic maturity," they said.
 
Gross nonstop taxation collections grew by 274% to Rs 27.02 lakh crore successful FY25 from Rs 7.21 lakh crore successful FY14. There was besides a 133% summation successful nan number of income taxation returns revenge to 8.89 crore successful AY 2024-25 arsenic against 3.8 crore successful FY13.