Tax refund cases being processed on priority: CBDT1 min read . Updated: 17 Jul 2020, 06:54 PM IST
CBDT said in a statement that individuals and businesses have benefited from its refund drive with ₹24,603 crore being paid in income tax refunds and ₹46,626 in corporate tax refunds during the Covid days
The Central Board of Direct Taxes (CBDT) said on Friday it was processing all tax refund cases on priority to help improve liquidity of tax payers and that ₹71,229 crore has been issued in refunds in more than 21.24 lakh cases by last Saturday.
CBDT said in a statement that individuals and businesses have benefited from its refund drive with ₹24,603 crore being paid in income tax refunds and ₹46,626 in corporate tax refunds during the Covid days.
The tax policy making body said refund related cleaning up of tax demands are being taken up on priority and would be completed by end of August.
“The government has laid great emphasis on providing tax related services to the taxpayers without any hassles and is aware that during these difficult times of Covid-19 pandemic, many of the taxpayers are waiting to see that their tax demands and refunds reach finality as quickly as possible," said the CBDT statement.
CBDT also urged tax payers to quickly respond to emails from the tax department so that they can process refund without any delay. “A quick response from the taxpayer in this regard would facilitate the I-T Department to process their refunds expeditiously," it said. “ All refunds have been issued online and directly into the bank accounts of the taxpayers," said CBDT.