The Income Tax Department has refunded over Rs 92,961 crore to over 63.23 lakh taxpayers in the current financial year (2021-22) till October 18. While IT refunds worth Rs 23,026 crore have been issued in 61.53 lakh cases, corporate tax refunds worth Rs 69,934 crore have been issued in 1.69 lakh cases. These include 32.49 lakh refunds for AY 2021-22 worth Rs 2,498.18 crore.
“CBDT issued refunds amounting to over Rs 92,961 crore to over 63.23 lakh taxpayers from April 1, 2021 to October 18, 2021. Income tax refund of Rs 23,026 crore and corporate tax refund of Rs 69,934 crore have been issued in 61, 53,231 cases. In 1,69,355 cases have been issued. This includes 32.49 lakh refunds for AY 2021-22 amounting to Rs 2,498.18 crore,” tweeted the Income Tax Department.
Significantly, 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.
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The Central Board of Direct Taxes (CBDT) had extended the due date for filing income tax returns for the assessment year 2021-22 till December 31. The deadline for filing ITR was already extended from July 31, 2021 to September 30, 2021. In view of the devastating second wave of the coronavirus disease (Covid-19) pandemic.
The final extension of the deadline comes amid technical glitches in the new income tax portal developed and managed by Infosys, which is facing backlash from the government over the issues.
(with inputs from ANI)
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