CBDT issues tax refunds of over Rs 88k cr since April

New Delhi, Aug 21 (IANS) The Central Board of Direct Taxes has said that it has so far issued direct tax refunds of over Rs 88,652 crore to more than 24.64 lakh taxpayers in the current financial year.

The total refund includes Income Tax refunds of Rs 28,180 crore have been issued in over 23 lakh cases and corporate tax refunds of Rs 60,472 crore have been issued in over 1.58 lakh cases.

“CBDT has, so far, issued refunds of over Rs 88,652 crore to more than 24.64 lakh taxpayers from April 1, 2020 onwards. Income tax refunds of Rs 28,180 crore have been issued in 23,05,726 cases & corporate tax refunds of Rs 60,472 crore have been issued in 1,58,280 cases,” the Income Tax Department said in a tweet on Friday.

The Finance Ministry had earlier stated that in view of the issues arising out of the pandemic, emphasis is being given on releasing all refunds at the earliest possible time period.

–IANS

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