Income Tax Refunds Of Rs 1.71 Lakh Crore Issued Till February 14

The Central Board of Direct Taxes (CBDT) has issued tax refunds of Rs 1.71 lakh crore to nearly two crore taxpayers in the current financial year till February 14, the Income Tax (I-T) Department said on Wednesday.

CBDT issued refunds of over Rs 1,71,555 crore to more than 1.97 crore taxpayers from April 1, 2021 to February 14, 2022, the I-T Department said.

The CBDT frames policy for the I-T department.

Income tax refunds of Rs 63,234 crore have been issued in 1,95,17,945 cases and corporate tax refunds of Rs 1,08,322 crore have been issued in 2,28,604, it added.

This included 1.58 crore refunds of the assessment year 2021-22, amounting to Rs 31,857.27 crore, the department further said.