In some instances, a taxpayer might receive a refund surpassing their eligible amount. According to Section 234D of the Income Tax Act, the IT department can reclaim this surplus, accompanied by interest.

Positive Update For Those Awaiting Income Tax Refunds: Individuals who haven't received their tax refunds for FYs 2017-18, 2018-19, and 2019-20 will now be able to receive them by January 31, 2024.

The survey, presented to Finance Minister Nirmala Sitharaman, indicated that 83% of surveyed individuals and 85% of firms reported an increased trust in the Income Tax Department.