In the current fiscal year, the Income Tax department has issued refunds amount over Rs 1.32 lakh crores to more than 39 lakh taxpayers. This consolidates Rs. 35,123 crore of Personal income tax and Rs. 97,677 crores of corporate tax.
CBDT issues refunds of over Rs. 1,32,800 crore to more than 39.75 lakh taxpayers between 1st April,2020 to 10th November,2020. Income tax refunds of Rs. 35,123 crore have been issued in 37,81,599 cases &corporate tax refunds of Rs. 97,677 crore have been issued in 1,93,813 cases.
— Income Tax India (@IncomeTaxIndia) November 11, 2020
The I-T department tweeted, “CBDT issues refunds of over 1,32,800 crores to more than 39.75 lakh taxpayers between April 1, 2020, to November 10, 2020. Income tax refunds of Rs 35,123 crore have been issued in 37,81,599 cases, and corporate tax refunds of Rs 97,677 crore have been issued in 1,93,813 cases.”
