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Income tax refund: CBDT issues Rs 1.54 lakh crore refunds to taxpayers

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The income tax department on Thursday said it has issued refunds of over Rs 1.54 lakh crore to more than 1.59 crore taxpayers so far this fiscal.

This includes 1.20 crore refunds of Assessment Year 2021-22 (fiscal ended March 31, 2021), amounting to Rs 23,406.28 crore.

“CBDT issues refunds of over Rs 1,54,302 crore to more than 1.59 crore taxpayers from 1st Apr 2021 to 10th January 2022,” the I-T department tweeted.

This includes personal income tax refunds of Rs 53,689 crore to over 1.56 crore entities and corporate tax refunds of over Rs 1 lakh crore to more than 2.21 lakh businesses.

The deadline for filing tax returns for the 2020-21 fiscal ended March 31, 2021, by individual taxpayers ended on December 31, 2021. For corporate taxpayers, the last date is March 15, 2022.

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Usama Younus

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