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The average time taken to process income tax returns has come down significantly to just 10 days now. The Central Board of Direct Taxes (CBDT) in a statement on Tuesday said that the post-verification process by the taxpayer has been simplified and made faster.
According to the news, CBDT said that the average processing time of income tax returns after verification for returns filed for Assessment Year (AY) 2023-24 is just 10 days. While in AY 2019-20 it was 82 days and in AY 2022 it was 16 days. According to reports, the Central Board of Direct Taxes said that the Income Tax Department is committed to processing tax returns (ITR) in an instant and efficient manner.
