Direct tax refunds of over Rs 1.36 lakh cr issued in FY21

The Central Board of Direct Taxes (CBDT) on Wednesday said that it has issued direct tax refunds refunds of over Rs 1.36 lakh crore to over 40 lakh taxpayers so far in FY21.

The total refunded amount includes Rs 35,750 crore of Income Tax reforms and over Rs 1 lakh crore of corporate tax.

“CBDT issues refunds of over Rs. 1,36,066 crore to more than 40.19 lakh taxpayers between 1st April,2020 to 17th November,2020. Income tax refunds of Rs. 35,750 crore have been issued in 38,23,304 cases &corporate tax refunds of Rs.1,00,316 crore have been issued in 1,95,518 cases,” the CBDT said in a tweet.

The Finance Ministry had earlier said that in view of the issues arising out of the coronavirus pandemic, emphasis was on release of all refunds in the earliest possible time.