IT Refund: Big News! IT department sent ₹84,781 crore to taxpayers till October 11, know details

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Income tax return: Big Alert! Now taxpayer will have to file ITR online, now physical filing is not possible - CBDT, know details
Income tax return: Big Alert! Now taxpayer will have to file ITR online, now physical filing is not possible - CBDT, know details

The Income Tax Department said on Wednesday that it has so far refunded Rs 84,781 crore to taxpayers in the current financial year (2021-22).



New Delhi.  The Income Tax Department has refunded more than Rs 84,781 crore to more than 59.51 lakh taxpayers till October 11 in the current financial year (2021-22). This figure is for refunds made between 1 April 2021 and 11 October 2021. Of this, the personal income tax refund was Rs 22,214 crore, while the tax refund of corporates was Rs 62,567 crore.

Income Tax Department tweeted and said, “CBDT has refunded more than Rs 84,781 crore to more than 59.51 lakh taxpayers between April 1, 2021 and October 11, 2021. Income tax refund of Rs 22,214 crore has been issued in 57,83,032 cases and corporate tax refund of Rs 62,567 crore has been issued in 1,67,718 cases.

It is worth noting that in the last financial year 2020-21, the Income Tax Department had issued tax refunds of Rs 2.62 lakh crore to 2.38 crore taxpayers. This was 43.2 percent more than the refund of Rs 1.83 lakh crore issued in the financial year 2019-20.


More than two crore ITR filed on the new portal

At the same time, the Income Tax Department said on Thursday that more than two crore ITRs have been filed so far for the financial year 2020-21 and the problems related to the performance of the new IT portal have been resolved to a great extent. CBDT appealed to the taxpayers to file their Income Tax Return for the financial year 2020-21 (April 2020-March 2021) at the earliest, saying that all ITRs have been made available for e-filing.


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