I-T Dept refunds more than Rs 1 lakh cr to over 27 taxpayers till September 8

Business
Typography

All corporate tax refunds up to Rs 50 crore have been issued in all cases whatever the due, the finance ministry said

The Union Finance Ministry said on Monday said that the Income Tax (I-T) Department issued refunds of over Rs 1 lakh crore to more than 27 lakh taxpayers this financial year till September 8.

The ministry said that return of Rs 1,01,308 cr issued to more than 27.55 lakh taxpayers between till September 8 this fiscal.

Of the total refunds, Rs 30,768 cr has been issued in 25,83,507 cases of personal Income Tax and Rs 70,540 cr issued in 1,71,155 cases of corporate tax refunds, the ministry said.  

“All corporate tax refunds up to Rs 50 crore have been issued in all cases whatever the due," the ministry said.

The Central Board of Direct Taxes (CBDT) is the apex decision-making body in direct tax matters, administers personal income tax and corporate tax.

The government emphasised on providing tax related services to taxpayers without any hassles during COVID-19 pandemic and to that end has been clearing up pending tax refunds.

 

Image credit: File photo

All Comments