Home >News >India >Income Tax dept issues refunds worth 37,050 cr between April 1- July 5

The income tax department on Thursday said it has issued 37,050 crore to more than 17.92 lakh taxpayers between April 1, 2021- July 5, 2021.

Of this, personal income tax refunds worth 10,408 crore have been issued in 16,89,063 cases, the Central Board of Direct Taxes (CBDT) said on Twitter.

Whereas, corporate tax refunds of 26,642 crore have been issued in 1,03,088 cases.

In the previous fiscal which ended on March 31, 2021, the department had issued 2.62 lakh crore worth refunds to more than 2.38 crore taxpayers.

The refunds issued in 2020-21 were 43.2% higher than the 1.83 lakh crore issued in 2019-20.

Meanwhile, this week, the Income Tax Department extended the deadline till July 15 for manual filing of forms related to foreign remittances.

As the new I-T portal faced technical issues after its launch on June 7 and users complained of glitches, the department had allowed manual filings of Form 15CA/15CB (required for foreign remittances) with banks till June 30.

"It has now been decided to extend the aforesaid date to July 15, 2021. In view thereof, taxpayers can now submit the said forms in manual format to the authorised dealers till 15th July, 2021," the Central Board of Direct Taxes (CBDT) said in a statement.

As per the Income Tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the chartered accountant certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorised dealer for any foreign remittances.

The CBDT has also advised authorised dealers to accept such manual forms till July 15 for the purpose of foreign remittances.

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