Tax Refunds: Income tax department released refund of Rs 1.23 lakh crore to 38 lakh people till 15 October

New Delhi, The Income Tax Department on Wednesday said that it has issued refunds of more than Rs 1.23 lakh crore to more than 38 lakh taxpayers between April 1 and October 15. In a tweet, the Central Board of Direct Taxes (CBDT) said, 'Income tax department has issued income tax refund of Rs 33,442 crore in 36,21,317 cases. At the same time, a corporate tax refund of Rs 90,032 crore has been issued in 18,916 cases.

CBDT issues refunds of over Rs. 1,23,474 crore to more than 38.11 lakh taxpayers between 1st April, 2020 to 13th October, 2020. Income tax refunds of Rs. 33,442 crore have been issued in 36,21,317 cases & corporate tax refunds of Rs. 90,032 crore have been issued in 1,89,916 cases.


These refunds have been issued from April 1, 2020, when the government decided to issue pending income tax refunds at the earliest. The government is constantly emphasizing on providing tax-related services to taxpayers without any hassle.

Earlier, the CBDT had decided to extend the last date of submission of revised and revised income tax returns for the assessment year 2019-20 from September 30, 2020 to November 30, 2020.

The CBDT had tweeted, 'In view of the difficulties being faced by taxpayers due to circumstances arising out of the corona virus epidemic, CBDT has delayed and submitted the last date of submission of revised income tax returns for the assessment year 2019-20 from September 30, 2020 It has been decided to increase it to 30 November 2020.

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