Revenue tax refund of Rs 92,961 crore issued in 2021-22

Revenue tax refunds of over Rs 90,000 crore have been issued within the present monetary yr

The Central Board of Direct Taxes (CBDT) on Thursday mentioned {that a} complete revenue tax refund of Rs 92,961 crore has been issued to taxpayers through the present monetary yr.

The board mentioned in a Twitter put up that these figures embody refunds of Rs 23,026 crore in 61,53,231 circumstances and company tax refunds of Rs 69,934 crore in 1,69,355 circumstances.

Refunds value Rs 92,961 crore have been issued by the CBDT to over 63.23 lakh taxpayers for the interval from April 1, 2021 to October 18, 2021.

The division additional mentioned, “This contains 32.49 lakh refunds for evaluation yr 2021-22, amounting to Rs 2,498.18 crore.”

Final Thursday, the federal government had mentioned that over two crore revenue tax returns (ITRs) have been filed up to now and the platform has “stabilised to a terrific extent”.

Urging taxpayers to file their returns for the monetary yr 2020-21 on the earliest, whose final date is December 31, 2021, the Revenue Tax Division mentioned in a press release that over 1.70 crore returns have been e-verified and Of those, 1.49 crore have been completed by means of the Aadhaar primarily based One Time Password (OTP) system.

The method of e-verification by means of Aadhaar OTP and different strategies is essential for the division to provoke the method of ITR and situation of refund, if any.

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