Direct tax refunds down 10% amid Covid-19 pandemic, says CBDT

Direct tax refunds are down 10 per cent, compared to the same period last year, despite the central government’s efforts to expedite these amid the Covid-19 pandemic. Refunds, or cash outflow from the income-tax (I-T) department, stood at Rs 74,000 crore up to July 18 this fiscal, against Rs 82,000 crore worth of refunds disbursed in the same period last year. According to a senior Central Board of Direct Taxes (CBDT) official, refunds have been held up in only cases where response is awaited from assessees and/or where cases  have been picked up for scrutiny. &ldq.....

Key stories on are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel