Taxman Issued Refund Of Over Rs 1.40 Lakh Crore Since April

As per the IT Department, Income Tax refunds of Rs 38,105 crores have been issued in 57,68,926 cases and corporate tax refunds of Rs 1,02,105 crores have been issued in 1,99,165 cases

Taxman Issued Refund Of Over Rs 1.40 Lakh Crore Since April

Income Tax refunds of Rs 38,105 crores have been issued in 57,68,926 cases

The Central Board of Direct Taxes (CBDT) on Wednesday issued refunds of over Rs 1,40,210 crore to more than 59.68 lakh taxpayers between April 1, 2020 to December 1, 2020, said Income Tax Department. As per the IT Department, Income Tax refunds of Rs 38,105 crores have been issued in 57,68,926 cases and corporate tax refunds of Rs 1,02,105 crores have been issued in 1,99,165 cases.

"CBDT issues refunds of over Rs 1,40,210 crores to more than 59.68 lakh taxpayers between April 1, 2020 to December 1, 2020. Income tax refunds of Rs 38,105 crores have been issued in 57,68,926 cases and corporate tax refunds of Rs 1,02,105 crores have been issued in 1,99,165 cases," the Income Tax Department said in a tweet.

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The Finance Ministry had last month extended the deadline for filing returns by individual taxpayers for Financial Year 2019-20 till December 31. The CBDT had earlier issued a notification on June 24, 2020, extending the due date for all Income Tax Returns for the FY 2019-20 to November 30, 2020.