The Income Tax department on Wednesday said it has issued refunds worth Rs 95,853 crore to over 25.55 lakh taxpayers in the current fiscal.
This include personal income tax refunds amounting to Rs 29,361 crore issued to 23.91 lakh taxpayers and corporate tax refunds amounting to Rs 66,493 crore to over 1.63 lakh taxpayers during this period.
"CBDT issues refunds of over Rs 95,853 crore to more than 25.55 lakh taxpayers between 1st April, 2020 to 25th August, 2020. Income tax refunds of Rs 29,361 crore have been issued in 23,91,517 cases & corporate tax refunds of Rs 66,493 crore have been issued in 1,63,272 cases," the I-T department tweeted.
The government has emphasised on providing tax-related services to taxpayers without any hassles during COVID-19 pandemic and to that end has been clearing up pending tax refunds.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024: What rural Delhi wants
May 16, 2024 10:10 PM
Over 50 onion farmers detained in Nashik ahead of PM Modi's visit
May 16, 2024 11:14 AM
Why Google CEO is cautiously optimistic about the election year
May 16, 2024 9:51 AM
Mark Mobius reveals how markets will react if NDA wins 400+ Lok Sabha seats
May 15, 2024 8:09 PM