Income Tax refunds of Rs 95,853 cr issued to 25.55 lakh taxpayers this fiscal

The Income Tax Department on Wednesday said it has issued refunds worth Rs 95,853 crore to over 25.55 lakh taxpayers in the current fiscal.

This includes personal income tax refunds amounting to Rs 29,361 crore issued to 23.91 lakh taxpayers and corporate tax refunds amounting to Rs 66,493 crore to over 1.63 lakh taxpayers during this period.

"CBDT issues refunds of over Rs 95,853 crore to more than 25.55 lakh taxpayers between April 1, 2020, to August 25, 2020. Income tax refunds of Rs 29,361 crore have been issued in 23,91,517 cases and corporate tax refunds of Rs 66,493 crore have been issued in 1,63,272 cases," the I-T department tweeted.

The government has emphasised on providing tax-related services to taxpayers without any hassles during Covid-19 pandemic and to that end has been clearing up pending tax refunds.