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Jul 14, 2025
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Income Tax refunds jump 474% since 2013-14, issuance time improves in past 11 years
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 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 was 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.
Gross direct tax collection grew 274 per cent to Rs 27.03 lakh crore as of 2024-25, from Rs 7.22 lakh crore as of 2013-14.
There has been a 133 per cent growth in I-T returns filed since 2013. A total of 3.8 crore ITRs were filed in 2013, which has risen to 8.89 crore in 2024.
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