IT dept refunds over Rs 62,000 cr to more than 20 lakh taxpayers during lockdown

PTI

Representative image

Representative image

Income Tax Department  has refunded  62 thousand and 361 crore rupees to more than 20 lakh taxpayers during Covid-19  lockdown days. Central Board of Direct Taxes, CBDT in a statement said, it has issued tax refunds at a speed of 76 cases per minute from 8th April to 30th June.

It said, income tax refunds amounting to over 23 thousand and 453 crore rupees  have been issued in  more than 19.07 lakh  cases and corporate tax refunds amounting to over  38 thousand 908 crore rupees have been issued in more than  1.36 lakh  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.

CBDT reiterated that taxpayers should provide immediate response to emails of the Department so that refunds in their cases too could be processed and issued at the earliest.