CBDT issues refunds worth Rs 1,12,489 crore to 91.30 lakh taxpayers | Personal Finance News


New Delhi: Central Board of Direct Taxes (CBDT), which works under the Department of Revenue, Ministry of Finance, on November 3, announced that it has issued refunds worth more than Rs 1,12,489 crore to more than 91.30 lakh taxpayers. 

The returns were credited to the bank accounts of taxpayers from 1st April 2021 to 1st November 2021, the department said on Wednesday. Out of the total refunds, Rs 33,548 crore have been issued as income tax refunds in 89,53,923 cases. 

The income tax department has issued corporate tax refunds worth Rs 78,942 crore in 1,75,692 cases, the CDBT said. 

Earlier, CBDT had announced that the deadline for filing Income Tax Returns (ITR) for the financial year 2020-21 is extended from September 30 to December 31, 2021, to provide relief to taxpayers. 

Previously, the deadline for filing ITR was extended by CBDT from July 31 to September 30 due to the second wave of COVID-19 pandemic that had gripped the nation for months. Also Read: SBI Q2 Net Profit surges 67%, bank registers highest quarterly Net Profit of Rs 7,627 crores

“Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22,” Finance Ministry had said at the time of extension of the deadline. Also Read: UIDAI gets powers to penalise Aadhaar violators, can fine firms up to Rs 1 crore

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Author: Shirley