I-T department refunds Rs 62,361 crore during lockdown: CBDT

Income tax department has issued Rs 62,361 crore of pending refunds to 20.44 lakh taxpayers between April 8 and June 30, the Central Board of Direct Taxes (CBDT) said Friday.

“In order to help taxpayers in a Covid-19 pandemic situations, the department has issued tax refunds at a speed of 76 cases per minute during this period which had 56 weekdays,” the Board said.

Income tax refunds amounting to Rs 23,453.57 crore have been issued in 19,07,853 cases to taxpayers and corporate tax refunds amounting to Rs 38,908.37 crore have been issued in 1,36,744 cases to taxpayers during this period.

Refunds of this magnitude and numbers have been issued completely electronically and have been directly deposited into the bank accounts of the taxpayers.

Taxpayers should provide immediate response to emails of income tax department seeking taxpayers to confirm their outstanding demand, their bank accounts number and reconciliation of defect/mismatch prior to issue of refund,
so that refunds in their cases too could be processed and issued expeditiously.

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