71,229 crore IT refunds issued to 21.24 lakh taxpayers during 8 April 11 July

71,229 crore IT refunds issued to 21.24 lakh taxpayers during 8 April 11 July

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NEW DELHI: The Income tax (I-T) The department has issued refunds worth more than Rs 71,229 crore to more than 21 lakh taxpayers during April 8 to July 11.
This includes Personal Income Tax (PIT), Rs 24,603 crore issued to 19.79 lakh persons and an amount of Rs 46,626 crore and corporate tax refunds to more than 1.45 lakh taxpayers during the period.
“It has further been emphasized that all refund related cleaning of tax demands is being taken priority and is likely to be completed by 31 August 2020,” an official statement said.
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It states that the government has laid great emphasis on providing tax related services to taxpayers without any hassle and is aware that during these difficult times of COVID-19 epidemic, many taxpayers are waiting to see Their tax demands and refunds are finalized as soon as possible, the statement added.
Central Board of Direct Taxes (CBDT) asked taxpayers to provide immediate response to the department’s email for quick processing of their refunds.
“A quick response from the taxpayer in this regard will facilitate the IT department to process its refund faster. Many taxpayers have submitted their responses electronically for rectification, appeal effect or tax credit. All these in a time bound manner. Are participating. The statement stated that refunds have been issued online and directly to the bank accounts of taxpayers.


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