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News INCOME TAX

  • Sep 10, 2020
  • I-T Dept issues refunds worth Rs 1.01 lakh crore to 27.55 lakh taxpayers till September 8

    The Income Tax Department on Wednesday said it has issued refunds of over Rs 1.01 lakh crore to 27.55 lakh taxpayers between April 1 to September 8.

    This include personal income tax (PIT) refunds amounting to Rs 30,768 crore issued to 25.83 lakh taxpayers and corporate tax refunds amounting to Rs 70,540 crore issued to over 1.71 lakh taxpayers during this period.

    “CBDT issues refunds of over Rs 1,01,308 crore to more than 27.55 lakh taxpayers between 1st April,2020 to 08th September,2020. Income tax refunds of Rs. 30,768 crore have been issued in 25,83,507 cases &corporate tax refunds of Rs.70,540 crore have been issued in 1,71,155 cases,” the Central Board of Direct Taxes (CBDT) tweeted.

    The government has emphasised on providing tax related services to taxpayers without any hassles during the Covid-19 pandemic, and accordingly has been clearing up pending tax refunds.