Average time taken for issuing I-T refunds reduced to 10 days in AY24: CBDT
- Central Board of Direct Taxes (CBDT), in a press release, informed that the average time it takes to process income tax returns after the taxpayer has verified them has been reduced to 10 days for assessment year [AY] 2023-24.
- This is very less as compared to 82 days for AY 2019-20 and 16 days for AY 2022-23.
Points to remember:
- average time taken by CBDT to process income tax returns in AY 2023-24? 10 days
Source: business-standard