CBDT issues refunds of over Rs 95,853 crore to more than 25.55 lakh taxpayers

The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 95,853 crore to more than 25.55 lakh taxpayers between April 1 to August 25, 2020, said the Income Tax (I-T) Department in a statement on Wednesday.

The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 95,853 crore to more than 25.55 lakh taxpayers between April 1 to August 25, 2020, said the Income Tax (I-T) Department in a statement on Wednesday. The I-T refunds of Rs 29,361 crore were issued in 2,391,517 cases and corporate tax refunds of Rs 66,493 crore have been issued in 163,272 cases, the statement said.

In view of the constraints due to the COVID-19 pandemic and to further ease compliances for taxpayers, 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. The Ministry of Finance issued a notification in this regard on July 29. (ANI)