After filing the income tax return, most of the people have the same question that when the refund will come. Along with this, people also want to know how long the refund process will take.
After filing the income tax return, most of the people have the same question that when the refund will come. Along with this, people also want to know how long the refund process will take.
After filing the income tax return, most of the people have the same question that when the refund will come. Along with this, people also want to know how long the refund process will take.
The last date for filing income tax refund is 31 July 2023. If you have filed ITR, then the tax department tells you whether your refund will come or not. If your return is correct then its information will be given through SMS. Apart from this, email is also sent.
The Income Tax Department gives information about how much refund will come in your account. This information is sent under section 143(1) of the Income Tax Act and a serial number is also given.
Refunds are sent directly to your bank account. If the information does not match at the time of filing ITR, there may be a delay in getting the refund. However, if the refund is filled in correctly, it comes much faster.
According to Nitin Gupta, chairman of the Central Board of Direct Taxes (CBDT), refunds have come faster than ITR filing. Refund is issued within 30 days of filing the return.
According to the CBDT chairman, the average time for tax refund in the financial year 2022-23 is 16 days. Whereas for the last financial year it was 26 days. Refunds have come faster with technology updates.
