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Refunds worth over Rs 74,158 cr issued to 45 lakh taxpayers in FY22 so far: CBDT

Refunds worth over Rs 74,158 cr issued to 45 lakh taxpayers in FY22 so far: CBDT

Of the total amount, income tax refunds worth Rs 18,873 crore have been issued in over 43.6 lakh cases, while corporate tax refunds totalling Rs 55,285 crore have been issued to over 1.55 lakh taxpayers.

The I-T Department said it issued refunds of over Rs 74,158 crore to more than 45.25 lakh taxpayers from April 1, 2021 to September 20, 2021. The I-T Department said it issued refunds of over Rs 74,158 crore to more than 45.25 lakh taxpayers from April 1, 2021 to September 20, 2021.

The Central Board of Direct Taxes (CBDT) today said it has issued refunds to the tune of over Rs 74,158 crore to around 45.25 lakh taxpayers across the country in this financial year till September 20.

Of the total amount, income tax refunds worth Rs 18,873 crore have been issued in over 43.6 lakh cases, while corporate tax refunds totalling Rs 55,285 crore have been issued to over 1.55 lakh taxpayers.

"CBDT issues refunds of over Rs. 74,158 crore to more than 45.25 lakh taxpayers from 1st April, 2021 to 20th September, 2021. Income tax refunds of Rs 18,873 crore have been issued in 43,68,741cases &corporate tax refunds of Rs. 55,285 crore have been issued in 1,55,920 cases," the I-T Department tweeted.

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It said the overall figure is inclusive of 17.45 lakh refunds amounting to Rs 1,350.4 crore of Assessment Year 2021-22. "This includes 17.45 lakh refunds of AY 2021-22 amounting to Rs 1350.4 crore."

The CBDT this month had extended the due dates for filing of Income Tax Returns and various other reports of audit for the Assessment Year 2021-22. The due date of furnishing of return of income for the assessment year was extended from September 30, 2021 to December 31, 2021.

The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, was also extended to December 31, 2021, from the earlier date of September 30, 2021.

Many taxpayers from across the country had raised the issue of the new Income Tax portal and the glitches that they had to face while filing their Income Tax Returns (ITRs). This led to the government extending the deadline for filing the ITR once again. Earlier, it had extended the last date from July 31, 2021, to September 31, 2021, owing the impact of the second wave of the COVID-19 pandemic.

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