1.6 MN TAX PAYERS GET REFUND OF OVER ₹26,000 CR

NEW DELHI: The income-tax (I-T) department has issued tax refunds worth ₹26,242 crore to 1.6 million tax assesses between April 1 and May 21, the Central Board of Direct Taxes (CBDT) said. I-T refund to 1.58 million assesses amounting to ₹14,632 crore and corporate tax refund to 102,392 assesses amounting to ₹11,610 crore have been given during this period, it said in a statement. Of the total sum, the department had already released of ₹2,050.61 crore in the week ended May 16 to 37,531 income tax assesses and a sum of ₹867.62 crore to 2,878 corporate tax assesses, it said.