Taxman Issues Refund Worth Rs 1.18 Lakh Crore To Taxpayers Since April

The Central Board of Direct Taxes (CBDT) has issued refunds over Rs 1,18,324 crore to more than 33.54 lakh taxpayers between April 1, 2020, to September 29, 2020, said the Income Tax Department on Wednesday.

The Income Tax (IT) refunds of Rs 32,230 crore have been issued in 31,75,358 cases and corporate tax refunds of Rs 86,094 crore have been issued in 1,78,540 cases, the department said in a statement.

In view of COVID-19 outbreak, the CBDT extended the due date for furnishing of belated and revised ITRs (Income tax return) for the assessment year 2019-20 from September 30, 2020, to November 30, 2020.

“On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated and revised ITRs for Assessment Yr 2019-20 from September 30, 2020, to November 30, 2020. Order u/s 119(2a) issued,” the CBDT tweeted.



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