ITR REFUND PROCESSING धमाल पे धमाल हो रहा है ! INCOME TAX REFUND NOT RECEIVED? LATEST update

Описание: ITR REFUND PROCESSING धमाल पे धमाल हो रहा है ! INCOME TAX REFUND NOT RECEIVED? LATEST

Summary
The video provides a major update on the rapid processing of Income Tax Returns (ITR) and the release of refunds by the Income Tax Department.

Key Highlights:

Record Processing Speed: The department is setting new records, processing a high volume of returns daily (e.g., 73,807 returns on December 7th [02:43]).

Pending Returns Reduced: Over 29 lakh returns were processed in the first week of December, significantly lowering the count of pending returns to approximately 90 lakh [02:58].

Interest on Delayed Refunds: The video confirms that taxpayers are receiving interest at 0.5% per month on delayed refunds, calculated from April 1st if the return was filed before the due date, as demonstrated with a successful refund case [00:37].

Resolution for Stuck Returns: If a return is filed correctly and verified, it is often processed on the same day. If a return is "stuck," it is likely due to errors or incorrect refund claims, and the speaker strongly advises getting it audited and revised [01:42].

Verification is Crucial: Over 11 lakh returns are still pending because the taxpayer has not completed the e-verification process [03:22].

Important Dates:

December 10th is the last date to file ITR for taxpayers with a tax audit [03:44].

December 31st is the final date to revise an ITR to correct any mistakes. Errors corrected after this date may incur a penalty fee [03:56].


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