CBDT Issued Tax Refunds of Rs 95853 Cr Since April

The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 95,853 crore to over 25.55 lakh taxpayers so far in the current financial year.

The total refunds include income tax refunds of Rs 29,361 crore and corporate tax refunds of Rs 66,493 crore.

"CBDT issues refunds of over Rs 95,853 crore to more than 25.55 lakh taxpayers between 1st April, 2020 to 25th August, 2020. Income tax refunds of Rs 29,361 crore have been issued in 23,91,517 cases & corporate tax refunds of Rs 66,493 crore have been issued in 1,63,272 cases," the Income Tax Department said in a tweet on Thursday

The Finance Ministry had earlier stated that in view of the issues arising out of the pandemic, emphasis is being given on releasing all refunds at the earliest possible time period.