As per a Finance Ministry release, the department issued refunds over Rs. 1,17,000 crore in 2015-16 and the figure was likely to further increase as banks reconcile the accounts.
"The Central Board Direct Taxes (CBDT) achieved significant success in delivery of taxpayer services in Financial Year 2015-16, a record setting year in delivery of taxpayer services," it said.
The Centralised Processing Centre (CPC) at Bengaluru processed more than 4.14 crore income tax returns (ITRs), an increase of over 35 per cent over the previous year.
The CPC also issued over 1.61 crore refunds above Rs. 100 to taxpayers, an increase of more than 47 per cent over the previous year.
"The CPC issued refunds to the tune of Rs. 37,870 crore in an automated manner of which 67 per cent were issued within 30 days. This demonstrates CBDT's commitment to faster and more efficient taxpayer service while saving costs on account of interest outgo," the statement said.
CBDT, the apex policy-making body of the income tax department, has also asked taxpayers who have not received their refunds to immediately check whether they have submitted their ITR-verification (ITR-V) forms to CPC Bengaluru.
"They may also check whether have responded to any notice under Section 245 regarding outstanding tax arrears, or notice under Section 139 (9) regarding any defect in their return," it said.
Taxpayers can also electronically verify their return using electronic verification code (EVC) instead of submitting ITR-V by post so that the process is completed faster. Almost 79 lakh taxpayers have used this facility.
The release further said taxpayers also reposed faith in CBDT's e-governance initiatives by electronically filing a whopping 4.34 crore ITRs in FY 2015-16 representing an increase of over 26.83 per cent over the previous year.
In addition, over 73.16 lakh other online forms were filed with an increase of nearly 100% compared to the previous year.
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