NEW DELHI: Amid delays in income tax refunds, the government has said that refunds issued so far this year are far more than the corresponding period of the preceding year.
The income tax department told TNIE that for FY 22-23, refunds of Rs 93,618 have been issued up to August 24, 2022, compared to refunds of Rs 52,408 issued in the corresponding period of the preceding year, marking an increase of over 78 per cent. Many income tax professionals and lawyers TNIE talked to said that there have been delays in refunds in many cases, but they could not pinpoint the reason for the delay.
“Returns processing takes place at CPC Bengaluru. The issue is there in their process. Not sure what protocols they follow, but it (refund) is being delayed this year,” said a chartered accountant.
Another tax professional told TNIE that despite the I-T department’s claim that they are issuing refunds in 7-10 days from the day of return fillings, they have not been able to do so in many cases. In many cases, the processing of the return is taking a lot longer– almost a month -- even if there are no anomalies in the return.