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I-T refunds jump 474%, time taken to process refunds drops by 81% since 2013-14
The Business Guardian
|July 14, 2025
Income Tax refunds have jumped 474 per cent in the last 11 years to Rs 4.77 lakh crore in 2024-25, significantly outpacing the 274 per cent growth in gross tax collections, sources said on Sunday.
Also, there has been an 81 per cent decrease in the number of days it takes to issue income tax refunds, decreasing from 93 days in 2013 to just 17 days in 2024.
As of 2013-14, the last year of the UPA rule, refunds issued by the Income Tax department were at Rs 83,008 crore. Whereas, at the end of 2024-25, the 11th year of the ongoing NDA rule, I-T refunds stood at Rs 4.77 lakh crore, showing a 474 per cent growth during the period.
This story is from the July 14, 2025 edition of The Business Guardian.
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