Income Tax dept issues refunds of Rs 26,242 crore since April.

by mehekkaoberoi
  • The tax department on May 22 said it has issued I-T refunds of Rs 26,242 crore to 16.84 lakh taxpayers since April as part of efforts to hasten refund process for making liquidity available with people and firms to deal with COVID-19 crisis.
  • The Central Board of Direct Taxes (CBDT) said 16,84,298 tax assesses have received refunds between April 1 and May 21.
  • Income-tax refund of Rs 14,632 crore to 15,81,906 assesses and corporate tax refund amounting to Rs 11,610 crore to 1,02,392 assesses have been processed during this period, the CBDT said in a statement.
  • The refund process has been further expedited at a greater pace since Finance Minister Nirmala Sitharaman’s announcement made in the ‘Atamanirbhar Bharat Abhiyan’ last week.
  • The CBDT has released a sum of Rs 2,050.61 crore in the previous week ended on May 16 to 37,531 income tax assesses and a sum of Rs 867.62 crore to 2,878 corporate tax assesses.
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