Deflating the government’s claim of expediting them amid the Covid-19 pandemic, direct tax refunds have declined 67 per cent since April 1 over the same period last year. Refunds, or the cash outflow from the government, stood at Rs 16,242 crore during April 1-May 21 of this fiscal year, against Rs 48,900 crore a year ago.
The Central Board of Direct Taxes in a statement on Friday said tax refunds worth Rs 26,242 crore, to 1.7 million assesses, had been released. But, according to two government officials in the know, the sum includes adjustments made by the department for ...
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST Rs
Key stories on business-standard.com are available to premium subscribers only.
Already a premium subscriber? LOGIN NOW
First Published: Mon, May 25 2020. 01:13 IST
