The income tax department on Wednesday said it has issued refunds of over Rs 1.29 lakh crore in 8 months of the current fiscal.

This includes Rs 16,691.50 crore worth refunds to 79.70 lakh taxpayers for Assessment Year 2021-22.
“CBDT issues refunds of over Rs. 1,29,210 crore to more than 1.15 crore taxpayers from 1st Apr 2021 to 29th November 2021,” the I-T department tweeted.

Of this, Income tax refunds of Rs 42,981 crore have been issued to over 1.13 crore individual cases, and corporate tax refunds of Rs 86,228 crore issued in 1.93 lakh cases.