I-T refunds worth Rs 1.40 tn issued to about 6 mn taxpayers in 8 months

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The Income Tax Department has issued refunds worth over Rs 1.40 lakh crore (Rs 1.40 trillion) to more than 59.68 lakh (about 6 million) taxpayers this fiscal till December 1.

This include personal income tax (PIT) refunds amounting to Rs 38,105 crore and corporate tax refunds of over Rs 1.02 lakh crore during this period.

"CBDT issues refunds of over Rs 1,40,210 crore to more than 59.68 lakh taxpayers between 1st April,2020 to 01st December,2020. Income tax refunds of Rs 38,105 crore have been issued in 57,68,926 cases & corporate tax refunds of Rs 1,02,105 crore have been issued in 1,99,165 cases," the I-T Department tweeted.

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