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CBDT issues refunds worth Rs 98,625 crore till September 1, 2020

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The Central Board of Direct Taxes (CBDT) has issued refunds worth Rs 98,625 crore in more than 26.2 lakh cases by September 1, 2020 to help taxpayers with liquidity in Covid-19 pandemic days.

The refunds have been issued since April 1, 2020 when the government took the decision to issue pending income tax refunds at the earliest.

Income tax refunds amounting to Rs 29,997 crore have been issued in 24.5 lakh cases to individual taxpayers, while bulk of the refunds have been on the corporate tax side, amounting to Rs 68,628 crore to 1.68lakh cases.

The government has laid great emphasis on providing tax related services to the taxpayers without any hassles and is aware that during these difficult times of Covid-19 pandemic, the government has at several occasions.

Previously, CBDT had asked taxpayers to provide immediate response to the emails of the income tax department, for quick processing of their refunds. A quick response from the taxpayer in this regard would facilitate the I-T Department to process their refunds expeditiously.

Many taxpayers have submitted their responses electronically for rectification, appeal effects or tax credits. These are being attended in a time bound manner. All refunds have been issued online and directly into the bank accounts of the taxpayers.

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