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RETIREMENT 62 NEWS

Income Tax Refunds – Parliament Q&A

August 14, 2018 by admin Leave a Comment

Income Tax Refunds – Parliament Q&A

LOK SABHA
UNSTARRED QUESTION NO: 1751
ANSWERED ON: 27.07.2018

PRASUN BANERJEE
(a). the average time taken for Income Tax refunds; and

(b). the details of all pending IT refunds since 2014 and the number of people awaiting IT refunds as on date?

ANSWER
MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI SHIV PRATAP SHUKLA)

(a). In the current financial year, the Centralized Processing Center (CPC) of the Income Tax Department, Bengaluru has taken on an average 43 days to process the income-tax returns of Assessment Year 2018-19. Separate data of average time taken in respect of returns involving claim of refund is not available. However, 83% refunds in the current financial year were issued by CPC within 60 days of filing of return.

(b). Out of all eligible refund claims filed in FY 2017-18, CPC has already processed 1.93 Cr cases. Out of the total eligible refund claims pending as on 01.04.2018, only 1.86 Lakh are pending to be issued by CPC as on 24.07.2018. Processing for eligible refund claims filed in the current financial year has already been completed in 17.92 lakh cases and processing in 19.61 lakh cases is under progress. Eligible refund cases are those cases where the return of income is free from any defect, the response of taxpayer to any notice for adjustment of income or outstanding arrears is not pending and the case is not covered under scrutiny.

Authority: https://loksabha.nic.in/

Filed Under: Income Tax Tagged With: 7th CPC News, Income Tax, Income Tax Refunds

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