Income Tax refunds to be sent to taxpayers in 7-10 days as per the CBDT news

 In what could be a good news for lakhs of taxpayers,
Income Tax Department will now process and send refunds 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.
The department’s latest initiative to
verify an Income Tax Return (ITR) by Aadhaar or other bank database has
received positive response from ITR filers because of which the taxman, for
Assessment Year 2015-16, was able to process and send refunds to bank accounts
of eligible taxpayers in less than 15 days time.

YEAR 2015-16

“The days are gone when
getting an I-T refund used to take months or in some cases even a few years.
The new electronic verification e-filing system has proved to be very
customer-friendly and as a token of thanks to the taxpayers, the department is
working to ensure their refunds are sent in a week’s time or a maximum of ten

“This is surely the way forward in the
administration of tax affairs in the country,” a top officer of the department
involved in these operations said.

According to latest statistics,
the department received 2.06 crore returns on its e-filing portal as on
September 7, 2015 (last date for ITR filing), which is an increase of 26.12 per
cent over the last year when 1.63 crore returns were filed online.

The department’s Central Processing
Centre (CPC) as on September 7 processed 45.18 lakh returns and issued refunds
to 22.14 lakh tax payers relating to assessment year 2015-16, it added.

During this period, the
department electronically verified over 32.95 lakh e-returns.

The data added that peak
filing rate touched 3,475 returns per minute this time as compared to 2,901
returns per minute last year.

As per some testimonials
received by the department from taxpayers, also accessed by PTI, many have
reported that they received their refunds in only 11 or 13 days time from the
day of filing their ITR.

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