Income Tax Return: For the assessment year 2023-24, the income tax returns of 88 per cent taxpayers have been processed till September 5, 2025, after filing their income tax returns. According to the Income Tax Department, till now 6 crore income tax returns have been processed. According to the data of the Income Tax Department, till now 12 percent of the verified income tax returns are yet to be processed.
Department sought clarification from 12 lakh taxpayers
The Income Tax Department said that there are 12 lakh such income tax returns in the assessment year 2023-24, in which the department has asked taxpayers to provide additional information through registered e-filing account. The department has asked taxpayers to give information soon.
Processing of returns in 10 days
According to the Central Board of Direct Taxes, after the verification of income tax return, the processing time of the return has been reduced to 10 days. Which was 16 days in the assessment year 2022-23, then this period used to be 82 days in the assessment year 2019-20. With this, taxpayers will not have to wait long for income tax return processing.
With over 6 crore of verified ITRs processed, Income Tax Department has processed about 88% of the verified ITRs for AY 2023-24 as on 05.09.2023.
👉More than 2.45 crore refunds for AY 2023-24 issued.
👉Average processing time of ITRs (after verification) reduced to 10 days.… pic.twitter.com/Fkq70gWaqu
— Income Tax India (@IncomeTaxIndia) September 5, 2023
14 lakh did not verify the return
The tax department said that a total of 6.98 crore income tax returns have been filed in the assessment year 2023-24, out of which 6.84 crore returns have been verified till September 5, 2023. That is, till now 14 lakh taxpayers have not verified the income tax return.
Validate bank account to get refund
The Income Tax Department said that it is dedicated to processing income tax returns as soon as possible and issuing refunds at the earliest. The department has also sought cooperation from taxpayers for speedy processing of income tax returns. The department said that till now the verification of 14 lakh filed income tax returns has not been done. Delay in verification may lead to delay in processing of returns. The department has asked the taxpayers to complete the verification process soon.
The Income Tax Department said that a total of 2.45 crore refund taxpayers have been issued in the assessment year 2023-24. However, in many cases the refund was not issued because the taxpayers have not validated their bank accounts.
read this also
Crude Oil Price: Saudi Arabia – Crude oil at 11-month high after Russia cuts production, price crosses $90 per barrel
IND Vs AUS India gave Australia a target of 400 runs in the second ODI, highlights of the innings, Holkar Stadium
Shubman Gill’s century breaks Sachin Tendulkar Virat Kohli Babar Azam’s record India vs Australia 2nd ODI Indore
Health Tips Healthy Heart Diet Tips Know what to eat and what not to eat after heart attack Marathi News
New Zealand was 6 times semi-finalist and 2 times finalist from 1975 to 2019 ODI World Cup, see the record of Kiwi team.