It’s a happy moment for all the taxpayers, more likely for those who have filed their Income Tax Return recently and are eagerly waiting for the Income Tax Refund. Now, a taxpayer can expect to receive their tax refund faster than usual, as the Central Board of Direct Taxes has asked the Income Tax Department to fast forward the tax refund process.
As per reports, there are several taxpayers who have already received their Income Tax Refund within 10-15 days of verifying their return. If everything pans out well, the taxpayers will receive their Income Tax Refund soon, provided there is no error or discrepancy in the ITR.
Under the circumstances where, the Income Tax Return has been filed but not verified, there can be delay in the tax refund. Moreover, tax experts from across the country are say that after processing of income tax returns, the Income Tax Department has been issuing the tax refunds in a speedy manner.
If any discrepancy is found by the Income Tax Department while processing Income Tax Refund, then the taxpayer will not receive the IT Refund till the discrepancy is not resolved. Well, on that note let’s hope you all receive your Income Tax Refund as soon as possible.