Interim Budget 2019: Income Tax Refunds To Be Processed Within 24 Hours, Says Piyush Goyal

Union Minister Piyush Goyal said in his budget speech on Friday that income tax refunds will be processed within 24 hours and released immediately. "Within the next two years, the assessment of all tax returns should be done electronically without any personal interface," he said while delivering the interim Budget for 2019-20.

The interim finance minister also said that the direct tax collections have risen from 6.38 lakh crores in 2013-14 to almost 12 lakh crores.

He also said that the taxpayer base has grown from 3.79 crores to 6.85 crores.