The Finance Ministry announced on Thursday a significant improvement in the issuance of tax refunds for the financial year 2024-25.
Between April 1 and November 27 this year, refunds amounting to Rs 3.08 lakh crore were issued, marking a 46.31 percent increase compared to the same period in 2023.
It also stated that at its peak this year, the Income Tax Return portal handled more than 900 filings in a second and nearly 70 lakh ITRs (Income Tax Returns) in a day. This year, more than 1.62 crore ITRs were processed in a single day for A.Y. 2024-25.
As the year 2024 comes to an end, the ministry shared the prominent initiatives or announcements it had undertaken this year.
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