New Delhi, August 26: The Income Tax Department on Wednesday announced that the Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 95 crore in India this year till August 25. The CBDT has issued over Rs 95,853 crore to more than 25.55 lakh taxpayers in India between April 1 to August 25, 2020, a tweet by Income Tax India said. It added saying that the income tax refunds of Rs 29,361 crore have been issued in 23,91,517 cases while corporate tax refunds of Rs 66,493 crore have been issued in 1,63,272 cases.
Earlier this month, the government said it is determined to successfully implement an income tax system that is 'seamless, painless and faceless'. On August 21, the Income Tax department had said it has issued refunds worth Rs 88,652 crore to over 24 lakh taxpayers so far this fiscal. According to reports, the amount includes personal income tax (PIT) refunds amounting to Rs 28,180 crore issued to over 23.05 lakh taxpayers and corporate tax refunds amounting to Rs 60,472 crore to over 1.58 lakh taxpayers during this period. New ITR Filing Criteria Introduced by Narendra Modi Govt From This Year.
Here's the tweet:
CBDT issues refunds of over Rs. 95,853 crore to more than 25.55 lakh taxpayers between 1st April, 2020 to 25th August, 2020. Income tax refunds of Rs. 29,361 crore have been issued in 23,91,517 cases & corporate tax refunds of Rs.66,493 crore have been issued in 1,63,272 cases.
— Income Tax India (@IncomeTaxIndia) August 26, 2020
The CBDT is the apex decision-making body in direct tax matters, administers personal income tax and corporate tax. "CBDT has, so far, issued refunds of over Rs 88,652 crore to more than 24.64 lakh taxpayers from 1st April, 2020 onwards. Income tax refunds of Rs 28,180 crore have been issued in 23,05,726 cases & corporate tax refunds of Rs 60,472 crore have been issued in 1,58,280 cases," the Income Tax department tweeted.
(The above story first appeared on LatestLY on Aug 26, 2020 02:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).