12 𝐥𝐚𝐤𝐡 𝐈𝐧𝐜𝐨𝐦𝐞 𝐓𝐚𝐱 𝐑𝐞𝐟𝐮𝐧𝐝𝐬 𝐰𝐞𝐫𝐞 𝐧𝐨𝐭 𝐜𝐫𝐞𝐝𝐢𝐭𝐞𝐝 𝐢𝐧𝐭𝐨 𝐭𝐡𝐞 𝐛𝐚𝐧𝐤 𝐚𝐜𝐜𝐨𝐮𝐧𝐭 𝐨𝐟 𝐓𝐚𝐱𝐩𝐚𝐲𝐞𝐫𝐬 𝐟𝐨𝐫 𝐅𝐘 2023-24 (𝐀𝐘 2024-25) As per reply to the question asked in Rajya Sabha, the 𝐧𝐮𝐦𝐛𝐞𝐫 𝐨𝐟 𝐈𝐓𝐑 𝐫𝐞𝐥𝐚𝐭𝐢𝐧𝐠 𝐭𝐨 𝐀𝐘 2024-25, 𝐰𝐡𝐞𝐫𝐞 𝐫𝐞𝐟𝐮𝐧𝐝 𝐢𝐬 𝐜𝐥𝐚𝐢𝐦𝐞𝐝 𝐢𝐬 3.98 𝐜𝐫𝐨𝐫𝐞𝐬 (𝐚𝐬 𝐨𝐧 21.01.2025) 𝐨𝐮𝐭 𝐨𝐟 𝐰𝐡𝐢𝐜𝐡 3.67 𝐜𝐫𝐨𝐫𝐞𝐬 𝐫𝐞𝐟𝐮𝐧𝐝 𝐫𝐞𝐭𝐮𝐫𝐧𝐬 𝐚𝐫𝐞 𝐚𝐜𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐰𝐢𝐭𝐡 𝐫𝐞𝐟𝐮𝐧𝐝𝐬 𝐢𝐬𝐬𝐮𝐞𝐝. Out of which 3.56 crore ITRs refund has been credited and approximately and approximately 12 lakh ITRs refund has failed to be credited to the taxpayer's account. R𝐞𝐟𝐮𝐧𝐝 𝐟𝐚𝐢𝐥𝐞𝐝 𝐭𝐨 𝐛𝐞 𝐜𝐫𝐞𝐝𝐢𝐭𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐛𝐚𝐧𝐤 𝐚𝐜𝐜𝐨𝐮𝐧𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐭𝐚𝐱𝐩𝐚𝐲𝐞𝐫𝐬 because of following reasons: 1. The bank account provided in the ITR is not valid. 2. Refund was sent to the destination bank but returned. 3. Proceedings for adjustment of refund to outstanding demand under section 245(1) & 245(2) of the Income-tax Act, 1961 are pending. 4. PAN is not linked to Aadhaar. 5. Reply awaited from taxpayers in respect of notices issued for defective return and other communications. 6. Other cases, involving variance, are at post verification stage.