CBDT Releases Rs 88,652 Crore In Tax Refunds In FY21 So Far

The Central Board of Direct Taxes has issued tax refunds worth Rs 88,652 crore to more than 24 lakh taxpayers so far in 2020-21.

This includes personal income tax refunds of Rs 28,180 crore to 23.05 lakh taxpayers and corporate tax refunds of Rs 60,472 crore to 1.58 lakh taxpayers.

"The CBDT has so far issued refunds of over Rs 88,652 crore to more than 24.64 lakh taxpayers from April 1, 2020, onwards. Income tax refunds of Rs 28,180 crore have been issued in 23,05,726 cases and corporate tax refunds of Rs 60,472 crore have been issued in 1,58,280 cases,” the taxman tweeted.

The CBDT is the apex decision-making body for indirect tax matters and administers personal income tax and corporate tax.

The government has emphasised on providing tax-related services without any hassles during Covid-19 pandemic and, to that end, has been clearing up pending tax refunds.