₹62,000cr I-T refunds made to over 2mn people

NEW DELHI: The income-tax (I-T) department has issued tax refunds worth over ₹62,361 crore at a speed of 76 cases per minute between April 8 and June 30 this year to over 2 million taxpayers, the finance ministry said on Friday.

I-T refunds amounting to ₹23,453.57 crore have been issued in 19,07,853 cases to taxpayers and corporate tax refunds amounting to ₹38,908.37 crore have been issued in 1,36,744 cases to taxpayers during this period, it said.

“Refunds of this magnitude and numbers issued completely electronically and directly deposited into the bank accounts of the taxpayers,” the ministry said in a tweet.

The Central Board of Direct taxes implemented the April 8 decision of the government to issue pending I-T refunds in order to help taxpayers in a pandemic situation in letter and spirit, a spokesperson of the board said. It issued refunds to over 20.44 lakh persons and entities amounting to more than ₹62,361 crore.