Income Tax dept issued ₹64,700 crore refund

The Income Tax department has issued 64,700 crore worth refunds in the current fiscal, and for full 2018-19 fiscal the amount released was over 1.61 lakh crore.

The government has accorded high priority to issue refunds for all taxpayers including small taxpayers. Less than 0.5% of income tax returns (ITRs) are selected for scrutiny, the majority of ITRs are processed expeditiously and refunds are issued.

In January 2019, the Government had approved integrated e-filing and Centralised Processing Centre (CPC) 2.0 project of the I-T department to process returns in a timely manner.

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