I-T refunds worth Rs 1.29 lakh cr issued to 39.49 lakh taxpayers

By: |
November 4, 2020 4:48 PM

This includes Personal Income Tax (PIT) refunds amounting to Rs 34,820 crore and corporate tax refunds aggregating to Rs 94,370 crore during this period.

Income tax refunds of Rs 34,820 crore have been issued in 37,55,428 cases.

The Income Tax department has issued refunds worth over Rs 1.29 lakh crore to more than 39 lakh taxpayers so far this fiscal.

This includes Personal Income Tax (PIT) refunds amounting to Rs 34,820 crore and corporate tax refunds aggregating to Rs 94,370 crore during this period.

“CBDT issues refunds of over Rs 1,29,190 crore to more than 39.49 lakh taxpayers between 1st April, 2020 to 3rd November, 2020. Income tax refunds of Rs 34,820 crore have been issued in 37,55,428 cases & corporate tax refunds of Rs 94,370 crore have been issued in 1,93,059 cases,” Income Tax department said in a tweet.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Atmanirbhar Bharat 3.0: Cabinet approves Rs 6,000 cr equity infusion in NIIF debt platform
2EU is willing to be ‘creative’ to get a Brexit trade deal
3BofA sees Q2 growth improving to -7.8%