Tax Refunds Increased of ITRs in 2022-23

According to Nitin Gupta, Chairman of the Central Board of Direct Taxes (CBDT), taxpayers can now expect quicker tax refunds.

In the fiscal year 2022-23, approximately 80 percent of refund cases were resolved within 30 days of filing returns.

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Gupta attributed this improvement to the accelerated income tax return process driven by technology.

The CBDT aims to facilitate “ease of doing business” for taxpayers by promoting voluntary compliance.

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Increased Efficiency: 42% of ITRs Processed Within a Day in 2022-23

During an online ‘Samvad’ session organized by the Income Tax Department, Gupta revealed a substantial increase in the prompt processing of Income Tax Returns (ITRs).

In the year 2022-23, the percentage of ITRs processed within a day rose from 21 percent to an impressive 42 percent.

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Gupta highlighted the department’s utilization of technology, emphasizing that on July 28, 2022, a record-breaking 22.94 lakh returns were disposed of in a single day.

Technology Boosts Efficiency: Record-breaking 22.94 Lakh Returns Processed in a Single Day

Gupta underlined the positive impact of technology in enhancing tax processes.

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The Income Tax Department achieved a significant milestone by processing a staggering 22.94 lakh returns in a single day on July 28, 2022.

This accomplishment signifies the department’s commitment to leveraging technology for swift and efficient tax-related operations.


Simplifying Tax Compliance: Two-Year Provision to Update ITR Returns

To facilitate voluntary compliance and reduce legal disputes, the CBDT has introduced a provision allowing taxpayers to file an ITR return (ITR-U) on the e-filing portal within two years after the end of the relevant assessment year.

This provision enables taxpayers to update their returns at any time, offering greater convenience and flexibility.


Game-Changing Results: Over 24.50 Lakh ITR Returns Filed, Rs 2,480 Crore Collected as Additional Tax

As of March 31, 2023, more than 24.50 lakh ITR returns have been filed, resulting in an impressive collection of approximately Rs 2,480 crore as additional tax revenue.

This signifies the positive outcomes of the initiatives taken by the CBDT to streamline the tax filing process and encourage compliance.

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Faceless Assessments Lead to Smooth Process, 60% Drop in Complaints

Gupta highlighted the success of the faceless assessment system in minimizing direct interaction between tax officials and taxpayers.

In the fiscal year 2022-23, more than four lakh assessments were completed without any face-to-face meetings, showcasing a significant shift towards a streamlined and efficient process.

Complaints related to the faceless system decreased by 60 percent compared to the previous financial year, indicating increased satisfaction among taxpayers.

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Effective Disposal: More Than One Lakh Appeals Resolved Under Faceless System

The implementation of the faceless system has yielded positive results in resolving tax-related appeals.

Tax officials successfully disposed of more than one lakh appeals under the faceless system, further demonstrating the efficiency and effectiveness of this approach in ensuring a fair and timely resolution of tax matters.


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