The Income Tax Department has issued refunds worth over Rs 2.62 lakh crore to more than 2.38 crore taxpayers in 2020-21.

This include Rs 87,749 crore personal income tax refunds to 2.34 crore taxpayers and Rs 1.74 lakh crore worth corporate tax refunds in 3.46 lakh cases.

The refunds issued in 2020-21 marks an increase of almost 43.2 per cent, the I-T department said in a statement.

Central Board of Direct Taxes (CBDT) has issued refunds of more than Rs 2.62 lakh crore to more than 2.38 crore taxpayers from 1st April, 2020 to 31st March, 2021, the statement said.

The total refunds issued in 2019-20 were worth Rs 1.83 lakh crore.