The Income Tax Department said on Thursday that it has so far refunded Rs 92,961 crore to taxpayers in the current financial year (2021-22).
New Delhi. The Income Tax Department has refunded more than Rs 92,961 crore to more than 63.23 lakh taxpayers till October 18 in the current financial year (2021-22). This figure is for refunds made between 1 April 2021 and 18 October 2021. Of this, personal income tax refund was Rs 23,026 crore, while that of corporates was Rs 69,934 crore.
Income Tax Department tweeted and said, “CBDT has refunded more than Rs 92,961 crore to more than 63.23 lakh taxpayers between April 1, 2021 and October 18, 2021. Income tax refund of Rs 23,026 crore has been issued in 61,53,231 cases and corporate tax refund of Rs 69,934 crore has been issued in 1,69,355 cases.
CBDT issues refunds of over Rs. 92,961 crore to more than 63.23 lakh taxpayers from 1st April, 2021 to 18th October, 2021. Income tax refunds of Rs. 23,026 crore have been issued in 61,53,231 cases &corporate tax refunds of Rs. 69,934 crore have been issued in 1,69,355 cases(1/2)
— Income Tax India (@IncomeTaxIndia) October 21, 2021
Significantly, in the last financial year 2020-21, the Income Tax Department had issued tax refunds of Rs 2.62 lakh crore to 2.38 crore taxpayers. This was 43.2 percent more than the refund of Rs 1.83 lakh crore issued in the financial year 2019-20.
More than two crore ITR filed on new portal
Recently, the Income Tax Department had said that more than two crore ITRs have been filed so far for the financial year 2020-21 and the problems related to the performance of the new IT portal have been resolved to a great extent. CBDT appealed to the taxpayers to file their Income Tax Return for the financial year 2020-21 (April 2020-March 2021) at the earliest, saying that all ITRs have been made available for e-filing.
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