Income Tax Refund: In the current financial year 2021-22 till August 30, the Income Tax Department has issued a refund of Rs 67,401 crore to the taxpayers.
New Delhi. The Income Tax Department has issued refunds of more than Rs 67,401 crore to more than 23.99 lakh taxpayers till August 30 in the current financial year (2021-22). These figures are of refunds issued between 1 April 2021 to 30 August 2021. Of this, the personal income tax refund was Rs 16,373 crore, while the tax refund of corporates was Rs 51,029 crore.
The Income Tax Department tweeted and said, “CBDT has returned Rs 23.99 crore crore to more than 23.99 lakh taxpayers between April 1, 2021 and August 30, 2021. In this, Rs 16,373 crore has been released to 22,61,918 individual taxpayers and Rs 51,029 crore has been released in 1,37,327 cases under company tax.
CBDT issues refunds of over Rs. 67,401 crore to more than 23.99 lakh taxpayers between 1st April, 2021 to 30th August, 2021. Income tax refunds of Rs. 16,373 crore have been issued in 22,61,918 cases & corporate tax refunds of Rs. 51,029 crore have been issued in 1,37,327 cases.
— Income Tax India (@IncomeTaxIndia) September 4, 2021
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.
In this way, check the status of
refund You can check your status for whether income tax refund has come in your account or not. To check the refund status, you have to visit the new e-filing portal of the Income Tax Department.
What is Tax Refund?
Advance is deducted on the basis of the estimated investment document of the income tax payers in a financial year. But when he submits the final papers by the end of the financial year, then if on calculation he finds that his tax has been deducted more and he has to withdraw the money from the income tax department, then he can file ITR for the refund. applies for.