CBDT issued refund of 70,120 crore till 6 September

New Delhi. The Central Board of Direct Taxes (CBDT) has issued refunds worth over Rs 70,120 crore till September 6 this year. The Income Tax Department said in a statement on Sunday that the CBDT has issued refunds of more than Rs 70,120 crore to more than 26.09 lakh taxpayers during April 1, 2021 to September 6, 2021.

CBDT has given personal income tax refund of Rs 16,753 crore in more than 24.70 lakh cases, while corporate tax refund of Rs 53,367 crore is involved in 1.38 lakh cases.

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It is noteworthy that the Income Tax Department has expedited the process of refund since the announcement of the Self-Reliant India Scheme by Finance Minister Nirmala Sitharaman. In fact, in the last financial year 2020-21, the Income Tax Department had issued a tax refund of Rs 2.62 lakh crore to 2.38 crore taxpayers, which was 43.2 percent more than the refund of Rs 1.83 lakh crore issued in the financial year 2019-20.

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