INCOME TAX REFUND AT RECORD HIGH
Many of us don’t know the benefits of filing income tax return electronically. If return is filed electronically then one will get his refund within 3 months of filing the return.
This will also save time to go to income tax department as after filing return electronically one has to send the printed acknowledgement on the address mentioned.
As more of people are becoming aware of efiling, refunds given by income tax department of India hit record high in financial year 2011-12. Refunds given were approximately Rs 1lakh crores which is 32.4% more than financial year 2010-11.
This amount is expected to increase in current financial year.
If you want your refund earlier, do file your income tax return electronically and through this you can even track the status of your refund.
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