Income Tax Refund Time 2023: I got my refund in 26 days. How long it may take for you?
Income Tax Refund issue time/timeline AY 2023-24: Many taxpayers, who have already filed their returns, are wondering when would they get their refunds (if any) from the Income Tax Department. Some have also been asking this question to the Income Tax Department on social media.
The tax-filing system has become faster than it was a few years back. It now just takes a few weeks for the complete processing of returns and issuance of refunds.
In my case, I got the refund in 26 days and much before the due date, i.e. July 31, 2023. I filed ITR on June 19 on the e-filing website of the Income Tax Department and got the message “You have a refund for AY 2023-24” on July 15, 2023.
After processing the Income Tax Return filed by an assessee, taxmen send an email intimation under Section 143(1) with details of refunds (if any). The intimation may also inform you about errors or omissions in your ITR and raise tax demand. According to Cleartax, a taxpayer generally receives an intimation under Section 143 (1) in the following cases:
Note: In case you have received a notice for further tax payment, you should either pay it (if you deem the demand to be correct) or consult a tax filing expert or tax-filing websites, who will guide you in properly responding to the mail, or even contesting the tax demand claim (if possible).
Also Read: ITR due date extension latest news on July18
As of now, taxpayers should not worry about when they will receive refunds. Instead, you should try to file an error-free return at the earliest.
Experts say it is difficult to predict the exact time by which you will get refunds. It may take 10 to 30 days, or even longer, on case to case basis. However, it is a fact that early filers usually get their
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