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    I-T refunds worth Rs 71,229 crore issued to 21.24 lakh taxpayers during April 8-July 11

    Synopsis

    The government has laid great emphasis on providing tax related services to the taxpayers without any hassles and is aware that during these difficult times of COVID-19 pandemic, many of the taxpayers are waiting to see that their tax demands and refunds reach finality as quickly as possible

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    The Central Board of Direct Taxes (CBDT) has issued refunds worth Rs 71,229 crore in more than 21.24 lakh cases by July 11, 2020 to help taxpayers with liquidity in Covid-19 pandemic days.

    The refunds have been issued since April 8, 2020 when the government took the decision to issue pending income tax refunds at the earliest.

    Income tax refunds amounting to Rs 24,603 crore have been issued in 19.79 lakh cases to individual taxpayers and corporate tax refunds amounting to Rs 46,626 crore in 1.45 lakh cases have been issued.

    “All the refund related cleaning up of the tax demands are being taken up on priority and would be completed optimistically by August 31, 2020,” CBDT said in a statement Friday.

    It added that all applications for rectifications and for giving effect to appeal orders are to be uploaded on the Income Tax Business Application (ITBA). Further, all the work of rectification and appeal effect will be done on the ITBA only.

    The government has laid great emphasis on providing tax related services to the taxpayers without any hassles and is aware that during these difficult times of Covid-19 pandemic, many of the taxpayers are waiting to see that their tax demands and refunds reach finality as quickly as possible.

    CBDT reiterated that taxpayers, for quick processing of their refunds, should provide immediate response to the emails of I-T department. A quick response from the taxpayer in this regard would facilitate the I-T Department to process their refunds expeditiously.

    Many taxpayers have submitted their responses electronically for rectification, appeal effects or tax credits, the Board said. These are being attended in a time bound manner. All refunds have been issued online and directly into the bank accounts of the taxpayers.

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    2 Comments on this Story

    Functional Nunnu96 days ago
    I got my fy18-19 Refund after bloody 10 months ONLY DUE TO CORONA as govt expedited it, else god knows when I would have got it ð ¡ð ¡
    Vilas Save96 days ago
    Auch a massive amount of money going and returning back ! Is it not possible to eliminate ? Did the committee on direct tax submit any recomendation to avoid such fruitless work ?
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