INCOME TAX REFUND WILL COME RAPIDLY FAST THIS YEAR

The number of return filed electronically has increased and hence increased the chances that the time in refund of income tax return will drop and the assesse will get early refund. The reason behind it is the e-filed return will automatic feed in the system and system automatically create the refund.



The number of electronically return is increased rapidly and crossed 60 lakhs this year, and expected to cross 180 lakhs, just double from the previous financial year in which the e-file return number was 91 lakhs. The total number of return both filed electronically and manually was 296 lakhs in 2010-11

This is a good sign for the people who are in waiting of income tax return. And this will increase year after year because e-filing of income tax return is easy and convenient.


The income tax department is also planning to open some regional processing centers in Maneshar (Haryana) and Pune (Maharashtra) to tackle the problem of paper return and to promote e-filing of income tax return.
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