Single Day income tax refunds after filing ITR

Compared to how things were about 15 years back, the income tax website has improved so much these days. But I would say that it is still not very impressive because some options can be made a lot better and easier to understand for a common man. They are making enough changes every month, but still have a lot of room for improvement. I'm glad that things are definitely better than they used to be. I recently filed my income tax returns, and I used the old tax regime to file my income taxes and it took some time to fill in some of the values.

Since I have so many different options that I can use for getting my income tax returns, I wanted to go with the old tax regime itself. I already mentioned this in detail in one of my previous articles. The government had mentioned that the 15th of this month was the last date for filing income tax returns. But since there were a few server-related issues on the income tax site, they moved the deadline to the 16th of this month. I think that was all good, but the tax department is not relaxing yet. They still have people filing income tax for companies and trusts by the end of this month.

Source

Many auditors wait until the individual's filing is over and work on the other tax filings. So, now talking about my filing experience, I have to admit that I struggled with some of the options on the website as they were not very clear, and in some places it was very tough to fill in the data requested. I understand that the Income Tax Department is indirectly pushing people towards the new tax regime, which is more convenient and easier to manage. I keep getting the thought that I should also switch to the new tax regime, but definitely not this year.

One thing that I wanted to highlight via this article is the fact that I got my income tax refunds within just one day. I thought it could take some time and maybe even weeks, but I submitted the form the night before at around 10 pm and in the middle of the night, I got confirmation about the submission and the next day at 9 am sharp, I already got the refund credited to my bank account. It was a single-day experience, and it was excellent. I did not expect refunds to be this fast. Today I read an article where they say people with more than 50k refunds should be slightly careful because they manually review and take action accordingly.

If you like what I'm doing on Hive, you can vote me as a witness with the links below.

Posted Using INLEO