Home >News >India >Tax refunds worth over 1.23 lakh crore issued to 38 lakh people till 15 Oct
The government has earlier emphasised on providing tax-related services to taxpayers without any hassles (REUTERS)
The government has earlier emphasised on providing tax-related services to taxpayers without any hassles (REUTERS)

Tax refunds worth over 1.23 lakh crore issued to 38 lakh people till 15 Oct

  • Income tax refunds of 33,442 crore issued in 36,21,317 cases & corporate tax refunds of 90,032 crore issued in 18,916 cases, CBDT said

The income tax department on Wednesday said it has issued refunds of over 1.23 lakh crore to more than 38 lakh taxpayers between 1 April to 15 October. "Income tax refunds of 33,442 crore issued in 36,21,317 cases & corporate tax refunds of 90,032 crore issued in 18,916 cases," Central Board of Direct Taxation (CBDT) said in a tweet.

The refunds have been issued since 1 April, 2020 when the government took the decision to issue pending income tax refunds at the earliest. The government has earlier emphasised on providing tax-related services to taxpayers without any hassles.

The CBDT had earlier extended the due date for furnishing of belated and revised ITRs (Income tax return) for the assessment year 2019-20 from September 30, 2020, to November 30, 2020.

"On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated and revised ITRs for Assessment Yr 2019-20 from September 30, 2020, to November 30, 2020. Order u/s 119(2a) issued," the CBDT had tweeted.

The extension has also granted additional time to the Income Tax department to more aggressively pursue its campaign to make taxpayers file their ITR, in whose case some specific financial transactions have been identified and reported, Shailesh Kumar, Nangia & Co LLP Partner said.

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