CBDT issues tax refunds worth Rs 26,242 cr since April 1st
New Delhi, May 23 (KNN) Central Board of Direct Taxes (CBDT) has issued tax refunds worth Rs. 26,242 crore to 16,84,298 assessees since April 1st, 2020 to May 21st, 2020.
According to a Ministry of Finance statement, on Friday, Income Tax refunds amounting to Rs. 14,632 crore have been issued to 15,81,906 assessees and corporate tax refunds amounting to Rs. 11,610 crore have been issued to 1,02,392 assessees during this period.
''It is stated that the refund process has been further expedited and refunds are being issued at a greater pace since the Union Finance Minister Nirmala Sitharaman's announcement made in the AatmaNirbhar Bharat Abhiyan last week,'' the statement added.
CBDT has released a sum of Rs. 2050.61 crore in the previous week ended on May 16, i.e., between May 9 to May 16 May, 2020 to 37,531 income tax assessees, the statement said.
''The department also released the sum of Rs. 867.62 crore to 2878 corporate tax assessees,'' the statement avowed.
The statement further said that during this week, i.e. between May 17 to May 21, 2020, the CBDT refunded another 1,22,764-income tax assessees were refunded Rs. 2672.97 crore and 33,774 corporate tax assessees including trusts, MSMEs, proprietorships, partnerships, etc. were issued refunds worth Rs. 6714.34 crore, taking the total amount refunded to Rs. 9387.31 crore in the case of 1,56,538 assessees.