Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1 lakh crore to more than 32.07 lakh taxpayers between 1st April 2020 to 22nd September 2020.
The I-T refunds of Rs 31,856 crore were issued in 30,29,681 cases and corporate tax refunds of Rs 79,517 crore have been issued in 1,76,966, the statement said.
"CBDT issues refunds of over Rs 1,11,372 crore to more than 32.07 lakh taxpayers between 1st April 2020 to 22nd September 2020. Income tax refunds of Rs. 31,856 crore have been issued in 30,29,681 cases and corporate tax refunds of Rs.79,517 crore have been issued in 1,76,966 cases," the CBDT tweeted.
In wake of coronavirus pandemic, CBDT has extended the due date for filing of Income Tax Returns for FY 2018-19 (AY 2019-20) from July 31 to September 30, 2020.
CBDT is the authority vested with the responsibility of the administration of laws related to direct taxes through the Department of Income Tax. In India, necessary inputs for policy and planning is provided by the CBDT.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU