After filing Income Tax Return, taxpayers are now waiting for their refund. Some got their refund in just 10 days and some have got it a month ago but their ITR refund has not come yet. Do you know why this happens? Know how the refund is processed, who gets it quickly and who gets it late?
The Finance Minister has said this regarding the refund
During the discussion on the budget in Parliament, Finance Minister Nirmala Sitharaman has said that the time taken to get income tax refund has reduced as compared to earlier. In 2013-14, it took about 93 days to process the income tax return and issue the refund, whereas in the year 2023-24, people are getting their refund in an average of 10 days. In such a situation, the Finance Minister has also given the answer as to why people’s refund is getting delayed.
Not every ITR is processed in 10 days
The Finance Minister had said that not every ITR is processed in 10 days. It takes an average of 10 days for an ITR to be processed. The more difficulties there are in an ITR form, the more time it will take to process it.
