I-T Department refunds over Rs 47,300 cr to taxpayers in FY22 so far

The Income Tax Department (I-T Department) on Saturday said it has refunded Rs 47,318 crore to taxpayers between April 1 to August 9 this year.

In a tweet, the I-T Department said that the Central Board of Direct Taxes (CBDT) has refunded the amount of over Rs 47,300 crore to more than 22.61 lakh taxpayers.

While income tax refunds of Rs 14,241 crore have been issued in 21,38,375 cases, corporate tax refunds of Rs 33,078 crore have been issued in 1,22,511 cases.

Also Read: I-T Dept to refund excess interest, late fee collected while filing returns for FY21

Earlier this week, the I-T Department had said that it would refund the excess interest and late fee collected from taxpayers due to an issue with the ITR software while filing their income tax returns (ITR) for financial year 2020-21. It said the issue with the software had been rectified.

The I-T department has extended the last date for filing ITR for last financial year to September 30, 2021, from July 31 to give relief to taxpayers during the pandemic.

Last week, it also notified three official email IDs for taxpayers to register grievances under the faceless or e-assessment scheme.

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