The government expects direct tax collections to be “proportionately better” than last year, despite higher refunds, an estimated Rs 1.45 lakh crore outgo due to reduction in corporation tax and the economic slowdown.
So far this year, refunds are estimated to have increased to Rs 1.7 lakh crore, compared to Rs 1.4 lakh crore a year ago.
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“This year, due to ease of online return filing and pre-filled form facility, Aadhaar OTP-based authentication, the processing of refunds became very quick and easy. Most of the refunds where no queries were to be made were given within three days of last date of return filing and the total amount refunded this year is the highest ever — more than Rs. 1.7 lakh crore till date,” an official said.
Source: Economic Times
