CBDT Lists Down Reasons for Delayed Processing of Income Tax Returns
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- By Taxmann
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- Last Updated on 9 September, 2023
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Press Release, dated 05-09-2023
The CBDT has released a press release stating that it is committed to processing the Income Tax Returns (ITRs) quickly and efficiently. The average processing time of ITRs (after verification) has been reduced to 10 days for returns filed for AY 2023-24 compared to 82 days for AY 2019-20 and 16 days for AY 2022-23.
It is pertinent to state that the Department is not able to process the following categories of ITRs for want of certain information/action on the part of taxpayers:
a) There are about 14 lakh ITRs for AY 2023-24 which have been filed but are yet to be verified by the taxpayers as on 04.09.2023. Failure to verify the Returns causes delays in processing it. Taxpayers are urged to complete the verification process immediately.
b) There are about 12 lakh verified ITRs with pending Department inquiries. Taxpayers are urged to promptly address these inquiries sent via their registered e-filing accounts.
Further, there are several cases in which the ITRs have been processed and refunds have also been determined but the Department is unable to issue them as taxpayers have not yet validated their bank account. Taxpayers are requested to validate their bank accounts.
Click Here To Read The Full Press Release
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