Average processing time for ITR reduced from 93 to 16 days

Average processing time for ITR reduced from 93 to 16 days

Daily Current Affairs   /   Average processing time for ITR reduced from 93 to 16 days

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Category : Business and economics Published on: February 03 2023

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  • Finance Minister Nirmala Sitharaman during Union Budget 2023-34 presentation said the average processing time for Income Tax Returns (ITRs) will be reduced to 16 days from 93 days. 
  • She claimed 45% of ITRs are processed within 24 hours.
  • The Finance Minister also announced the deployment of about 100 Joint Commissioners for disposals of small appeals in direct tax matters.
  • The Budget also stipulates a plan to strengthen the grievance redressal mechanism for direct taxes.
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