Nearly 90% income tax payers find refunds easier, says CII survey

A survey conducted by the Confederation of Indian Industry (CII) revealed that 89 percent of individuals and 88 percent of firms were of the view that there has been a significant reduction in the waiting time to get an income tax refund in the last five years, between 2018-2023.

The survey was conducted in October 2023 among 3531 respondents out of which 56.4 percent were individual respondents and 43.6 percent were firms/enterprise/organisation-level respondents. The survey was conducted at the pan-India level where maximum participation came from the major states.

“The significant reduction in waiting time to get an income tax refund over the last five years by both individuals and firms, as shown by the survey results is encouraging as it reflects the Government's unrelenting efforts to make the process of getting income tax refunds simple and efficient over the years,” said  Chandrajit Banerjee, Director General, CII.

Among the respondents, 53 percent of individuals and 45 percent belonging to firms cited that it took less than a month to receive income tax refunds. Reflecting the overall efficiency speed and efficiency of the income tax refunds, 83 percent of the surveyed individual respondents and 85 percent of the surveyed firm-level respondents shared an increased trust with the income tax department, CII said in a statement on November 22.