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Income Tax department issues refunds worth Rs 1.64 lakh crore to 1.41 crore taxpayers till January 4

07 Jan 2021 Evaluate

The Income Tax department said it has issued refunds worth over Rs 1.64 lakh crore to over 1.41 crore taxpayers till January 4, this fiscal. This includes Personal income tax (PIT) refunds amounting to Rs 53,070 crore and corporate tax refunds of over Rs 1.10 lakh crore during this period.

The department said ‘CBDT issues refunds of over Rs. 1,64,016 crore to more than 1.41 crore taxpayers between April 01, 2020 to January 04, 2021. Income tax refunds of Rs. 53,070 crore have been issued in 1,38,85,044 cases & corporate tax refunds of Rs. 1,10,946 crore have been issued in 2,06,847cases’.

The Department had said that over 5 crore income tax returns (ITRs) for fiscal year 2019-20 have been filed till January 4. The government has extended the ITR filing deadline for individuals till January 10, and for companies till February 15.