I-T department refunds Rs 62,361 crore during COVID-19 lockdown days: CBDT
Jul 03, 2020
New Delhi [India], July 3 : The Central Board of Direct Taxes on Friday announced that the Income Tax Department has issued refunds for over 20.44 lakh cases amounting to more than Rs 62,361 crore.
"The Income Tax department has issued tax refunds at a speed of 76 cases per minute from April 8 to June 30, 2020. During this period of just 56 weekdays, the Central Board of Direct Taxes (CBDT) today said that it has issued refunds in more than 20.44 lakh cases amounting to more than Rs 62,361 crore," an official statement from CBDT stated.
"Income tax refunds amounting to Rs 23,453.57 crore have been issued in 1,907,853 cases to taxpayers and corporate tax refunds amounting to Rs 38,908.37 crore have been issued in 136,744 cases to taxpayers during this period. Refunds of this magnitude and numbers have been issued completely electronically and have been directly deposited into the bank accounts of the taxpayers," the CBDT further said.
The CBDT said in these refund cases, "no taxpayer had to approach an officer of the department to request for release of refund. They now got refund directly into their bank accounts".
