Indian taxpayers are increasingly becoming e-savvy to avoid hassles and get faster refunds.
Electronic filing of Income Tax Returns (ITR) for FY17 was over 226.98 lakh as on August 5, 2016, as compared to 70.97 lakh for the same period in FY16, CBDT data shows.
The tax department has issued refunds worth Rs 2,922 crore for 20.81 lakh returns during FY17 till August 5.
The central processing centre, Bengaluru has already issued over 54.35 lakh refunds totaling to Rs 14,332 crore, which includes 20.81 lakh refunds for AY 2016-17 (current year returns) totaling to Rs 2,922 crore till August 5, 2016.
CBDT data also indicates that an increasing number of are now using Aadhaar based verification of the IT returns.
“Aadhaar based E-verification was used by 17.68 lakh taxpayers during the current year as against 10.41 lakh taxpayers during the same period in 2015-16. In addition to these, 3.32 lakh returns were digitally signed. Thus, over 35 per cent of taxpayers have already completed the entire process of return submission electronically,” said the CBDT release.
E-filing-of-tax-returns-trebles--refunds-rise-too-in-fy17
Electronic filing of Income Tax Returns (ITR) for FY17 was over 226.98 lakh as on August 5, 2016, as compared to 70.97 lakh for the same period in FY16, CBDT data shows.
The tax department has issued refunds worth Rs 2,922 crore for 20.81 lakh returns during FY17 till August 5.
The central processing centre, Bengaluru has already issued over 54.35 lakh refunds totaling to Rs 14,332 crore, which includes 20.81 lakh refunds for AY 2016-17 (current year returns) totaling to Rs 2,922 crore till August 5, 2016.
CBDT data also indicates that an increasing number of are now using Aadhaar based verification of the IT returns.
“Aadhaar based E-verification was used by 17.68 lakh taxpayers during the current year as against 10.41 lakh taxpayers during the same period in 2015-16. In addition to these, 3.32 lakh returns were digitally signed. Thus, over 35 per cent of taxpayers have already completed the entire process of return submission electronically,” said the CBDT release.
E-filing-of-tax-returns-trebles--refunds-rise-too-in-fy17
