According to data released by the Union Finance Ministry on December 12, tax refunds surged by 46.31 per cent, reaching Rs 3.08 lakh crore between April 1 and November 27 this year, compared to the same period in 2023. This highlights a significant improvement in the efficiency of the Income Tax Department.
In the same period last year, from April 1 to November 30, 2023, refunds amounting to Rs 2.03 lakh crore were issued, underscoring the Ministry’s focused efforts to accelerate the process this year. The statement further credited the Central Board of Direct Taxes (CBDT) for playing a pivotal role in achieving this significant milestone.
In its year-end review, the Finance Ministry highlighted that within just one week of processing, 26.35 per cent of IITRs for FY 2024-25 were cleared — a notable increase from the 22.56 per cent achieved in FY 2023-24. This year-on-year growth reflects not only the system’s enhanced efficiency but also the proactive participation of taxpayers in meeting filing deadlines.
At its peak this year, the Income Tax Return portal processed over 900 filings per second and nearly 70 lakh ITRs (Income Tax Returns) in a single day, according to the data.
This year, a record 1.62 crore ITRs were processed in a single day for A.Y. 2024-25, as per the statement. The highest number of ITRs filed in one day was 69.93 lakh on July 31, 2024. By November 22, a total of 8.50 crore ITRs had been filed, marking a 7.32 per cent increase compared to the same period last year.
The Demand Management Facilitation Centre was set up to streamline the handling of tax demands by offering taxpayers a single point of contact for all issues related to outstanding tax liabilities. According to the statement, this initiative has played a key role in accelerating the filing process.
“The Central Board of Direct Taxes is committed to enhancing transparency by promptly releasing data and supporting taxpayers through timely awareness campaigns,” the statement noted. Additionally, a special initiative was launched to resolve 35 lakh failed refund cases from various assessment years, ensuring that refunds were processed for validated bank accounts. This effort not only sped up the issuance of pending refunds but also streamlined the entire process.
