On 8 April, the government had announced that processing of pending income tax refunds of up to ₹5 lakh will be expedited to provide taxpayers some relief amid the covid-19 lockdown.
Sharing the update on 15 April, the Central Board of Direct taxes (CBDT), in a press release, had said that it had issued over 10.2 lakh refunds totaling around ₹42.5 billion until 14 April.
These refunds were over and above the 2.50 crore refunds, worth ₹1.84 trillion, issued till 31 March. The CBDT had also said that 1.75 lakh more refunds were in the process of being issued.
These refunds would be credited to taxpayers' bank accounts in 5-7 business days from issuance. Are you wondering why haven't you received your income tax refund yet despite having