Tax department made Rs 1.57 lakh crore refunds so far, says official

New Delhi: The Income Tax Department of the Ministry of Finance has processed refunds worth Rs 1.57 lakh crore so far, according to a top Government official. According to him, tax refunds are being processed in batches based on the order of return filing dates and the tax amounts.

According to tax experts, while most taxpayers have received their refunds, there are many who are yet to receive, mainly those with large tax refunds. However, there are people who have small tax refunds but have not yet received.

“Those who have not yet received their tax refunds need to check if they have got any notification from the tax department. Also, they also may wait for one or two weeks to get the refund,” a top official said when asked about the reason behind in delay of refunds for some taxpayers.

Revenue Secretary Sanjay Malhotra on Wednesday shared that close to 4 crore Income Tax Returns (ITRs) for the Assessment Year 2024-25 have been processed in just 15 days following the July 31 filing deadline for individuals. As of the deadline, over 7.28 crore ITRs had been filed.