Saturday, May 30, 2020

Good news for tax payers … CBDT refunded over Rs. 26K crore since April 1

During the last period between May 17 to 21, another 1,22,764 income tax assesses received a total refund of Rs. 2672.97 crore.

New Delhi: The Central Board of Direct Taxes (CBDT) has issued tax refunds worth Rs. 26,242 crore to 16,84,298 assesses since April 1 to May 21 this year.

The CBDT said that Income Tax refund to 15,81,906 assesses amounting to Rs. 14,632 crore and corporate tax refund to 1,02,392 assesses amounting to Rs. 11,610 crore have been given during this period.

CBDT added that refund process has been further expedited at a greater pace since Union finance minister Nirmala Sitharaman’s announcement during the Atamanirbhar Bharat Abhiyan last week.

The CBDT released a sum of Rs. 2050.61 crore between May 9 to 16. This benefited a total of 37,531 income tax assesses. A sum of Rs. 867.62 crore was released for 2878 corporate tax assesses.

During the last period between May 17 to 21, another 1,22,764 income tax assesses received a total refund of Rs. 2672.97 crore.

Along with this, 33,774 corporate assesses including trusts, MSMEs, proprietorships, partnerships, etc. were also issued refunds which amounted to Rs. 6714.34 crore.

The total amount refunded during this period was a whopping Rs. 9387.31 crore which benefited 1,56,538 tax assesses.

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