Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1 lakh crore to more than 32.07 lakh taxpayers between 1st April 2020 to 22nd September 2020.
The I-T refunds of Rs 31,856 crore were issued in 30,29,681 cases and corporate tax refunds of Rs 79,517 crore have been issued in 1,76,966, the statement said.
“CBDT issues refunds of over Rs 1,11,372 crore to more than 32.07 lakh taxpayers between 1st April 2020 to 22nd September 2020. Income tax refunds of Rs. 31,856 crore have been issued in 30,29,681 cases and corporate tax refunds of Rs.79,517 crore have been issued in 1,76,966 cases,” the CBDT tweeted.
In wake of coronavirus pandemic, CBDT has extended the due date for filing of Income Tax Returns for FY 2018-19 (AY 2019-20) from July 31 to September 30, 2020.
CBDT is the authority vested with the responsibility of the administration of laws related to direct taxes through the Department of Income Tax. In India, necessary inputs for policy and planning is provided by the CBDT.