Home >News >India >I-T refunds worth 1.45 lakh crore issued to 89 lakh taxpayers

NEW DELHI : The Finance Ministry on Friday said the Income Tax Department has issued refunds worth 1.45 lakh crore to about 89 lakh taxpayers so far this fiscal.

This includes personal income tax (PIT) refunds during this period.

"CBDT issues refunds of over 1,45,619 crore to more than 89.29 lakh taxpayers between 1st April, 2020, to 08th December, 2020," the Finance Ministry said in a tweet.

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 has 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.

Meanwhile, the deadline for filing returns by individual taxpayers for FY 2019-20 has been extended by a month till December 31.

For those taxpayers whose accounts need to be audited, the Income-Tax Return filing deadline has been extended by two months till January 31, 2021. The government had in May extended the date for filing ITR for FY2019-20 from July 31 to November 30, to give compliance relief to taxpayers.

In a statement, the Central Board of Direct Taxes (CBDT) said, "The due date for furnishing of Income Tax Returns for the taxpayers [for whom the due date (i.e. before the extension by the said notification) as per the Act was July 31, 2020] has been extended to December 31, 2020."

The due date for furnishing of ITR for the taxpayers, who are required to get their accounts audited (for whom the due date as per the I-T Act is October 31, 2020), has been extended to January 31, 2021, it added.

The CBDT said the deadlines have been extended in order to "provide more time to taxpayers for furnishing of Income Tax Returns".

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Edit Profile
My ReadsRedeem a Gift CardLogout