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CBDT refunds Rs 1,50,863 crore to more than 1.18 crore taxpayers

As per the I-T department, Income Tax refunds of Rs 47,608 crore have been issued in 1,16,07,299 cases and corporate tax refunds of Rs 1,03,255 crore have been issued in 2,01,796 cases

twitter-logoBusinessToday.In | December 23, 2020 | Updated 15:19 IST
CBDT refunds Rs 1,50,863 crore to more than 1.18 crore taxpayers
Rs 1,50,863 crore refund issued to over 1.18 crore taxpayers, says CBDT

The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1,50,863 crore to more than 1.18 crore taxpayers between April 1, 2020 to December 1, 2020, according to Income Tax Department.

As per the I-T department, Income Tax refunds of Rs 47,608 crore have been issued in 1,16,07,299 cases and corporate tax refunds of Rs 1,03,255 crore have been issued in 2,01,796 cases.  

"CBDT issues refunds of over Rs 1,50,863 crore to more than 1.18 crore taxpayers between 1st April, 2020 to 20th December, 2020. Income tax refunds of Rs 47,608 crore have been issued in 1,16,07,299 cases & corporate tax refunds of Rs 1,03,255 crore have been issued in 2,01,796 cases," I-T department said in a tweet.

Meanwhile, the CBDT has extended the last date for filing Income Tax Returns (ITR) for the financial year 2019-20 (the assessment year 2020-21) to December 31 in view of the pandemic. For those taxpayers whose accounts need to be audited, the ITR filing deadline has been extended by two months till January 31, 2021.  The agency said the deadlines have been extended in order to "provide more time to taxpayers for furnishing of Income Tax Returns".        

Also Read: I-T Dept launches 'Jhatpat Processing' for filing income tax returns; check details

Also Read: ITR filing: Dec 31 last date for filing returns, here's all you need to know    

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