The Income Tax department on Wednesday stated it has issued over Rs 24,792 crore refunds to greater than 15 lakh taxpayers so far this fiscal.
Of this private revenue tax refunds worth Rs 7,458 crore has been issued in over 14.98 lakh instances. Corporate tax refunds of Rs 17,334 crore have been issued to 43,661 taxpayers.
“CBDT issues refunds of over Rs 24,792 crore to greater than 15 lakh taxpayers between 1st April 2021 to seventeenth May 2021,” the Income-tax department tweeted.
The I-T department didn’t specify the monetary 12 months for the refunds. However, it’s believed that the refunds are for tax returns filed for the 2019-20 fiscal.
In the earlier fiscal, which ended on March 31, 2021, the department had issued Rs 2.62 lakh crore worth refunds to greater than 2.38 crore taxpayers.
The refunds issued in the 2020-21 fiscal is 43.2 per cent greater than Rs 1.83 lakh crore issued in 2019-20, which ended March 31, 2020.
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