The Income Tax Department has refunded more than Rs 92,961 crore to more than 63.23 lakh taxpayers till October 18 in the current financial year (2021-22). While IT refunds worth Rs 23,026 crore have been issued in 61.53 lakh cases, corporate tax refunds worth Rs 69, 934 crores have been issued in 1.69 lakh cases. These also include 32.49 lakh refunds of AY 2021-22 worth Rs 2,498.18 crore.
“CBDT issues refunds of over Rs 92,961 crore to more than 63.23 lakh taxpayers from April 1, 2021 to October 18, 2021. Income tax refunds of Rs 23,026 crore have been issued in 61, 53,231 cases, and corporate tax refunds of Rs 69,934 crore have been issued in 1,69,355 cases. This includes 32.49 lakh refunds of AY 2021-22 amounting to Rs 2,498.18 crore,” the Income Tax department tweeted.
Notably, in the last financial year 2020-21, the Income Tax Department had issued tax refunds of Rs 2.62 lakh crore to 2.38 crore taxpayers. This was 43.2 percent more than the refund of Rs 1.83 lakh crore issued in the financial year 2019-20.
The last extension of the deadline came amid continued technical glitches on the new Income Tax portal developed and managed by Infosys, which has been facing backlash from the government over the issues.
(With Input from ANI )