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Income Tax Department issues refund of Rs 2.24 lakh crore

New Delhi: The Income Tax Department has issued refunds of Rs 2.24 lakh crore. The refund was issued to more than 2.43 crore taxpayers. Over Rs 2.59 lakh crore worth of refunds were issued to 2.37 crore taxpayers in the previous year.

The Union Finance ministry informed thatĀ  more than 1.28 crore or 22.4% , were processed on the same day after verification. More than 5.70 crore income tax returns (ITRs) were processed in 2021-22.

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Over 1.47 crore ITRs were processed within a week, while over 72 lakh were processed within a fortnight and over 70 lakh within a month. Once a taxpayer files ITR, it is verified by the Centralized Processing Centre, Bengaluru. After that, it is processed and refunds, if any, are issued.


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