Income Tax Refund From 1st April 2021 to 7th February 2022, refunds of more than Rs 1.67 crore were issued to more than 1.87 crore taxpayers. 6.17 crore returns and about 19 lakh tax audit reports have been filed since the launch of the e-filing portal
If TDS is deducted more than the tax liability, then you can claim refund by filing ITR. In ITR filing, you have to provide the name of the bank and its IFSC code. By giving both these information, the Income Tax Department will give you a quick and easy refund.
The Central Board of Direct Taxes (CBDT) issued refunds worth over Rs 1.67 crore to over 1.87 crore taxpayers from 1 April 2021 to 7 February 2022. IT refunds worth Rs 59,949 crore issued in 1,85,65,723 cases, Corp Tax refunds of Rs 1,07,099 crore issued in 2,28,100 cases.
CBDT issues refunds of over Rs 1.67 cr to more than 1.87 cr taxpayers from 1 April’21 to 7 Feb’22. IT refunds of Rs 59,949 cr issued in 1,85,65,723 cases, Corp tax refunds of Rs 1,07,099 cr issued in 2,28,100 cases. Rs 1.48 cr refunds of AY 2021-22 amounting to Rs 28,704.38 cr
— ANI (@ANI) February 9, 2022
6.17 crore returns filed so far on new IT portal
Since the launch of the e-filing portal, 6.17 crore returns and about 19 lakh tax audit reports have been filed. The new income tax portal was launched on June 7 last year. Of the 6.17 crore returns filed for the assessment year 2021-22, 48 percent ITR-1 (2.97 crore), nine percent ITR-2 (56 lakh), 13 percent ITR-3 (81.6 lakh), 27 percent ITR-4 (1.65 crores), ITR-5 (10.9 lakhs), ITR-6 (4.84 lakhs) and ITR-7 (1.32 lakhs).
CBDT issues refunds of over Rs. 1,67,048 crore to more than 1.87 crore taxpayers from 1st Apr,2021 to 7th February,2022. Income tax refunds of Rs. 59,949crore have been issued in 1,85,65,723cases &corporate tax refunds of Rs. 1,07,099crore have been issued in 2,28,100cases(1/2)
— Income Tax India (@IncomeTaxIndia) February 9, 2022
According to the CBDT, 6.17 crore income tax returns and about 19 lakh tax audit reports have been filed on the e-filing portal till February 6. At the same time, more than 1.61 lakh other tax audit reports have also been filed. The department is sending reminders to taxpayers through e-mail, SMS and Twitter and is encouraging them to file their ITRs without any delay.
The Income Tax Department said in a tweet that for the assessment year 2021-22, so far more than 4 crore people have filed their Income Tax Returns. If you haven’t filed your return yet, file it now.
How to claim TDS refund – If TDS is deducted more than the tax liability, then you can claim refund by filing ITR. In ITR filing, you have to provide the name of the bank and its IFSC code. By giving both these information, the Income Tax Department will give you a quick and easy refund. If you do not have taxable income then you have to apply for lower or nil TDS certificate. You can do this work by filling Form 13 under section 197.
You have to submit this form to the TDS deductor. If you are not earning from the interest of the banks, then you will have to give this information under the 15G form. ITR refund is credited to your bank account within 3-6 months of filing ITR. The tax department takes so much time because it has to do e-verification.
How to Check Your Refund Status
>> First of all go to the new website of Income Tax Department (ITR) http://www.incometax.gov.in .
>> Enter your User ID and Password there.
>> After logging in, you will see the option of e-filing.
>> Now you select Income Tax Returns.
>> After that click on View File Return.
>> After which the details of your ITR will be visible in front.
