Expedious Refund Issue
(Last Updated On: June 1, 2017)
Expeditor’s Refund Issue by CDBT!
Did we all hear it right?
Refunds issued to almost 39% of the returns processed
- No of Return Processed : 4.19 crores
- No of people who received refunds this year : 1.62 crores
- Amount of Refunds Issued : Rs.1.42 Lakh Crores, which is 41.5% higher than last year.
92% return filed processed by CPC, Bengaluru within 60 Days
Of all the refunds issued, 92% are below Rs.50,000.
Only 2% of the refunds below Rs.50000 is remaining to be issued . The reason being either recent filing of the returns or pending verification from the tax -payer.
So, looking at the above facts this can very well be concluded that CBDT is keeping up with its commitment to faster and more efficient taxpayer services especially for the small tax payers.