CBDT issues refunds of Rs 1.11 lakh crore

The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1 lakh crore in more than 32.07 lakh cases so far, including Rs 79,517 crore of corporate tax refunds. 

Published: 24th September 2020 10:25 AM  |   Last Updated: 24th September 2020 10:25 AM   |  A+A A-

Money, notes, rupee

For representational purpose. (Photo | Sindhu Chandrasekaran)

By Express News Service

NEW DELHI:  The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1 lakh crore in more than 32.07 lakh cases so far, including Rs 79,517 crore of corporate tax refunds. 

The refunds have been issued since April 1, 2020 when the government took the decision of issuing pending income tax refunds at the earliest to help taxpayers with liquidity amid these difficult times caused due to the Covid-19. 

“CBDT has issued refunds of over Rs 1,11,372 crore to more than 32.07 lakh taxpayers between April 1, 2020 and September 22, 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 said in a tweet on Wednesday.

In the wake of the global pandemic, the tax department had also extended the due date for filing Income Tax Returns for FY 2018-19 (AY 2019-20) from July 31 to September 30, 2020.

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