I-T refunds worth ₹15,438 crore issued in 1 month
The Income Tax department on Wednesday said it has issued refunds of over ₹15,438 crore to 1.17 million taxpayers in one month this fiscal.
Of this personal income tax refunds worth ₹5,047 crore has been issued in over 1.15 million cases. Corporate tax refunds of ₹10,392 crore have been issued to 21,487 taxpayers.
“Central Board of Direct Taxation (CBDT) issues refunds of over ₹15,438 crore to more than 1.17 million taxpayers between April 1, 2021, to May 3, 2021,” the Income tax department tweeted.
The I-T department did not specify for which financial year the refunds pertain to. In the previous fiscal which ended on March 31, 2021, the department had issued ₹2.62 lakh crore worth refunds to more than 238 million taxpayers.
The refunds issued in 2020-21 fiscal are 43.2% higher than ₹1.83 lakh crore issued in 2019-20 fiscal, which ended March 31, 2020.