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I-T refunds worth Rs 95,853 crore issued to over 25.55 lakh taxpayers in FY20

This include personal income tax refunds amounting to Rs 29,361 crore issued to 23.91 lakh taxpayers and corporate tax refunds amounting to Rs 66,493 crore to over 1.63 lakh taxpayers

twitter-logoPTI | August 26, 2020 | Updated 16:02 IST
I-T refunds worth Rs 95,853 crore issued to over 25.55 lakh taxpayers in FY20

The Income Tax department on Wednesday said it has issued refunds worth Rs 95,853 crore to over 25.55 lakh taxpayers in the current fiscal. This include personal income tax refunds amounting to Rs 29,361 crore issued to 23.91 lakh taxpayers and corporate tax refunds amounting to Rs 66,493 crore to over 1.63 lakh taxpayers.

"CBDT has issued refunds of over Rs 95,853 crore to more than 25.55 lakh taxpayers between 1st April, 2020 to 25th August, 2020. Income tax refunds of Rs 29,361 crore have been issued in 23,91,517 cases & corporate tax refunds of Rs 66,493 crore have been issued in 1,63,272 cases," the I-T department tweeted.

The government has put emphasis on providing tax-related services to taxpayers without any hassles during the COVID-19 pandemic and to that end has been clearing up pending tax refunds.

Also read: Interest on delayed GST payments to be charged on net tax liability from September 1

Also read: GST slashed tax rates doubled taxpayer base to 1.24 crore: Finance Ministry

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