CBDT issues refunds worth Rs. 1,32,381 cr to more than 1.19 cr taxpayers

The Central Board of Direct Taxes (CBDT) today announced that it has issued funds worth Rs 1,32,381 crores to more than 1.19 crore taxpayers from April 1, 2021 to December 6, 2021. Income tax refunds of Rs. 44,207 crores have been issued in 1,17,32,079 cases. The department also stated that the corporate tax refunds of Rs. 88,174 crores have been issued in 1,99,481 cases.

The total issued refunds also include 83.28 lakh refunds of Assessment Year 2021-22 amounting to Rs. 17,266.48 crore, the Income Tax Department mentioned in a tweet.

According to the IT department on November 30, 2021, CBDT extended the last date for updating UDINs for all the IT forms at the e-filing portal to 31st January, 2022.

As of December 5, 2021, more than 3 crore Income Tax Returns were filed on the new e-Filing portal of the Income Tax Department as on December 3, 2021. The number of ITRs filed per day was recorded to be over 4 lakh. ITRs have been increasing everyday as the extended due date is now December 31, 2021, the department said in an official statement.

“It is encouraging to note that 2.69 crore returns have been e-verified, out of which more than 2.28 crore are through Aadhaar based OTP,” the department mentioned.

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