Have you got your Refund: Department Initiated Refund of Rs 1.14 Lakh Crore

The due date ie. 31st July 2022 of Income Tax Return for f/y 2021-22 (Non Audit Case) has been passed and no extension was given by the CBDT. The department is claiming from the day one that they have build up a system which will process the ITR in robust mode and also this system will initiate refund immediately. In this que, The Income Tax department inform that they have issued refunds of over Rs 1.14 lakh crore to more than 1.97 crore taxpayers between April 1 to August 31.

It said on Saturday(03/09/2022) that The Central Board of Direct Taxes (CBDT) that income tax refunds of Rs 61,252 crore have been issued in 1,96,00,998 cases and corporate tax refunds of Rs 53,158 crore have been issued in 1,46,871 cases.

CBDT issues refunds of over Rs 1.14 lakh crore to more than 1.97 crore taxpayers between April 1, 2022, to August 31, 2022. Income tax refunds of Rs 61,252 crore have been issued in 1,96,00,998 cases and corporate tax refunds of Rs 53,158 crore have been issued in 1,46,871 cases,” the CBDT said.

@incometaxindia

Written By – Ayushi Rastogi (Content Writer)

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