Income Tax refunds worth Rs 70,120 crore issued between April 1 and September 6

By BW CFO World Online Bureau

The Income Tax Department on Sunday said it has issued refunds of over Rs 70,120 crore till September 6 this year. Of this personal income tax refunds of Rs 16,753 crore have been issued in over 24.70 lakh cases and corporate tax refund of Rs 53,367 crore have been issued in 1.38 lakh cases.

“CBDT (Central Board of Direct Taxes) issues refunds of over Rs 70,120 crore to more than 26.09 lakh taxpayers between 1st April, 2021 to 6th September, 2021,” the Income Tax Department tweeted.

The income tax department has just compiled their returns made for the two quarters into one and are displaying the fact that their returns were massive.

(PTI)