Income Tax Department tweeted that so far in this financial year, it has issued refunds of more than Rs 1.62 lakh crore to 1.79 crore taxpayers.
New Delhi: The Income Tax Department said on Thursday that so far in this financial year, it has issued refunds of more than Rs 1.62 lakh crore to 1.79 crore taxpayers. This includes 1.41 crore refunds for the assessment year 2020-21, amounting to Rs 27,111.40 crore.
Information given by tweet
The Income Tax Department gave this information by tweeting. The Income Tax Department tweeted that the Central Board of Direct Taxes (CBDT) has issued refunds of more than Rs 1,62,448 crore to more than 1.79 crore voters between April 1, 2021 and January 24, 2022.
Check Refund Status
If your refund has not been received yet, then you can check the status through the website of Income Tax Department. You can easily do this work through your PAN and login ID and password.
What is Refund?
Income tax is deducted first in a financial year based on the income tax payer’s estimated investment document. At the same time, when he submits the final papers by the end of the financial year, then if on calculation he finds that his tax has been deducted more and he has to withdraw money from the Income Tax Department, then he can file ITR for refund.
Due to delay in refund
Income Tax Department now sends tax refund only to the bank account. In such a situation, if you have filled the wrong information of your account while filling the form, then your refund may get stuck. You can fix this through the Income Tax Department. You can correct the account details online in your form. Along with this, it is necessary that the bank account details that you are giving in your income tax return form are linked with PAN.
