I-T Department points refunds price Rs 25,301 crore thus far this fiscal

The Income Tax Department on Wednesday stated it has issued Rs 25,301 crore-worth refunds to greater than 15.45 lakh taxpayers thus far this fiscal.
Out of the overall quantity, private revenue tax refunds to the tune of Rs 7,494 crore have been issued in over 15 lakh instances. Corporate tax refunds of Rs 17,807 crore have been issued to 44,140 taxpayers.
“CBDT issues refunds of over Rs 25,301 crore to more than 15.45 lakh taxpayers between 1st April, 2021 to 24th May, 2021,” the Income Tax Department stated in a tweet.

The I-T division didn’t specify about which monetary yr the refunds pertained to. However, it’s believed that the refunds are for tax returns filed for 2019-20 fiscal.

In the earlier fiscal, the division had issued Rs 2.62 lakh crore-worth refunds to greater than 2.38 crore taxpayers.
The refunds issued in 2020-21 fiscal was 43.2 per cent greater than Rs 1.83 lakh crore issued in 2019-20 fiscal, which ended March 31, 2020.