Income Tax refunds jump 474% since 2013-14, issuance time improves in past 11 years

India's Income Tax refunds have surged by 474% over the past 11 years, reaching Rs 4.77 lakh crore in 2024-25, outpacing the 274% growth in gross tax collections. The processing time for refunds has significantly decreased from 93 days in 2013 to just 17 days in 2024. This improvement is attributed to enhanced tax administration and digital infrastructure.