More than half of the individuals and 45% of businesses received income tax refunds within a month, a key factor for more than 80% of the respondents of a CII survey, indicating that they have greater trust in the tax department.
Faster return processing and issue of refunds has been a thrust area for the government and the survey indicates that the feedback has been positive.
Until a few year ago, until the process was automated, refunds would take as much a year.
While around 88% of the individuals and firms covering a sample of over 3,500 respondents said refunds were faster than five years ago, 65-70% of those polled believed that wait time is shorter than a year ago. Over 62% of the respondents found the refund process “very convenient”, according to the survey.
Read more at: The Times of India
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