Good News! Income Tax Refunds Are Now Being Credited to Bank Accounts Within Hours of Filing and Verification

Great News for all taxpayers from India- Income Tax refunds are now being credited to bank accounts within hours of filing and verification. Many taxpayers on the social media platform X (Previously known as Twitter) have shared how they received an Income Tax refund within 24 hours. One user shared, “MY wife received the IT refund in her account after seven hours of e-verification and 24 hours of return filing for Assessment Year 2025-26.”

Another person shared, “Filed ITR for my retired mother and father around 1 PM, and by 4 PM the same day, both returns were processed, and refunds credited. Miracle! Hats off to a super-efficient team of Income Tax under the great leadership of Finance Minister Smt. Nirmala Sitharaman. Yes, this is New India.”

There are so many cases where taxpayers receive refunds immediately. One said he received his refund directly into his bank account within just two hours.

New features such as pre-filled IT returns, automated annual information statements, instant e-verification, quicker CPC processing, and real-time bank credit have made the system more seamless. The CBDT has played a major role in simplifying workflows and removing hurdles.

This was outlined by Finance Minister- Nirmala Sitharaman in the budget: “Over the past 10 years, our Government has brought several reforms for the convenience of taxpayers, such as (1) faceless assessment, (2) the taxpayers’ charter, (3) faster returns, (4) almost 99 per cent of returns being on self-assessment, and (5) the Vivad se Vishwas scheme,” she also added, “Continuing these efforts, I reaffirm the commitment of the tax department to ‘trust first, scrutinize later’ presented this year.”

The Central Board of Direct Taxes (CBDT) and the Finance Ministry have made a big appreciation for this reform, with several taxpayers addressing it as a milestone in taxpayer convenience.

Faster cycles not only create trust but also put liquidity in the hands of citizens at the right time, allowing them to give their own little boost to the economy.