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Income Tax Refunds 1,12,489 Cr Issued This Fiscal: CBDT

This figure includes income tax refunds of Rs. 33,548 crore in 89,53,923 cases and corporate tax refunds of Rs. 78,942 crore in 1,75,692 cases.

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Refunds of over Rs 1,12,489 crore have been issued to the taxpayers during the current financial year, the CBDT, informed the Central Board of Direct Taxes (CBDT) on Wednesday. The Central Body for Income Tax, CBDT frames policy for the Income Tax Department. 

This figure includes income tax refunds of Rs. 33,548 crore in 89,53,923 cases and corporate tax refunds of Rs. 78,942 crore in 1,75,692 cases. 

The Income Tax Department Took to Twitter and wrote, "CBDT issues refunds of over Rs. 1,12,489 crore to more than 91.30 lakh taxpayers from 1st April 2021 to 1st November 2021. Income tax refunds of Rs. 33,548 crore have been issued in 89,53,923 cases and corporate tax refunds of Rs. 78,942 crore have been issued in 1,75,692 cases."

"This includes 46.09 lakh refunds of AY (assessment year) 2021-22 amounting to Rs 6,657.40 crore," the Income Tax Department tweeted. 

Meanwhile, in the last Financial Year (FY) 2020-21, the Income Tax Department had issued a total of Rs 2.62 lakh crore tax refund to 2.38 crore taxpayers, which was 43.2 per cent more than it issued in the FY 2019-20 i.e. Rs 1.83 lakh crore. 

Also, the CBDT had increased the due date for filing the Income Tax Returns (ITR) for the assessment year 2021-22 till December 31, due to the continuous technical glitches faced by the taxpayers while using the Income Tax e-portal developed and managed by Infosys.


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