<ul data-eligibleForWebStory="false"><li>Income tax refunds in India have surged by 474% in the last 10 years, increasing from Rs 83,008 crore in FY14 to Rs 4,76,743 crore in FY25.</li><li>The growth in tax refunds is nearly double the pace of tax collections, aided by digital interventions by the Income Tax Department.</li><li>The number of days to issue income tax refunds has decreased from 93 days in 2013 to just 17 days in 2024, reflecting improvements in tax administration through digital infrastructure.</li><li>The taxpayer base has expanded by 133% in 10 years, with income tax returns filed growing from 3.8 crore in 2013 to 8.89 crore in 2024, indicating the formalization of India's economy.</li></ul>

Income Tax Refunds Surge 474% In Last 10 Years, Double Of Tax Collections

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