Income Tax Refund: Is your refund also stuck due to this reason? Income Tax Department gave new update

Income Tax Refund: Is your refund also stuck due to this reason?  Income Tax Department gave new update

The Income Tax Department has made the process of filing returns (ITRs) and processing returns very easy. Earlier this entire process was complicated and it used to take months. Now this is only a few days’ work left. Because of this, taxpayers get the refund within a few days of filing the return. However, this does not happen with everyone and in many cases the refund of taxpayers gets stuck.

So many people have got refund

According to the data of Income Tax Department, assessment year In (Assessment Year 2023-24), taxpayers have filed a total of 7.09 crore returns. Out of them, 6.96 crore returns have been verified. The Income Tax Department has processed 6.46 crore returns so far. The Income Tax Department says that out of the processed returns, refunds have been given to taxpayers in the case of Rs 2.75 crore.

The department gave this update

Clear evidence from the figures. It turns out that there are still many taxpayers who have not been able to get income tax refund. The Income Tax Department has given information about this in a latest social media update. If you too have not yet received the refund from the Income Tax Department, then this update of the department can prove to be useful for you.

(tw)https://x.com/IncomeTaxIndia/ status/1705509920286597412?s=20(/tw)

This is why the refund is stuck

The Income Tax Department says that there are many such cases in which old demands are pending. In such cases, the Income Tax Department adjusts the old dues in the refund. In this regard, Section 245 (1) of the Income Tax Act 1961 provides that the taxpayer should be given an opportunity to present his case before adjusting the old dues in the refund. Request

The department says that in all such cases, it has sent notices to the concerned taxpayers and informed them. This step is to protect the interests of taxpayers and thus they are being given a new chance under the principles of justice. The department has requested all such taxpayers to go to the department’s office after receiving the notice and clear the old demand.

Also read: After Germany, Britain and Eurozone are facing crisis, clouds of recession have covered entire Europe.

Get more latest business news updates

Scroll to Top