CBDT Issues Direct Tax Refunds of Rs 1.36 Lakh Crores

The Central Board of Direct Taxes (CBDT) said that it has issued direct tax refunds of over Rs 1.36 lakh crore to over 40 lakh taxpayers so far in FY21.

The total refunded amount includes Rs 35,750 crore of Income Tax reforms and over Rs 1 lakh crore of corporate tax.

"CBDT issues refunds of over Rs. 1,36,066 crore to more than 40.19 lakh taxpayers between 1st April 2020 to 17th November 2020. Income tax refunds of Rs. 35,750 crore have been issued in 38,23,304 cases &corporate tax refunds of Rs.1,00,316 crore have been issued in 1,95,518 cases," the CBDT said in a tweet.

The Finance Ministry had earlier said that in view of the issues arising out of the coronavirus pandemic, the emphasis was on release of all refunds in the earliest possible time.