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Income Tax Department to issue faster refunds!

Updated on: 08 Sep, 2023 02:13 PM

Income Tax Department plans to issue refunds for the ITRs pertaining to A.Y. 2016-17 which are filed online and e-verified within the due date by the end of this month i.e. 30 September 2016.

For the returns filed online but verification is done manually, refunds will be issued within two months of receipt of the signed acknowledgement by the CPC-Bengaluru.

The aim of the department is to reduce the time taken for issue of refunds to two months from four to six months.

CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.