In the month of August, the Income Tax Department has issued refunds of more than one lakh crore rupees to about two crore income tax payers. The Central Board of Direct Taxes has given this information today.
According to the CBDT, refunds worth Rs 1.14 lakh crore have been issued to 1.97 crore taxpayers between April 1 and April 31 . According to the department, a refund of Rs 61252 crore has been issued to 1.96 crore income tax payers. At the same time, corporate tax refund of Rs 53158 crore has been issued in 1.46 lakh cases. According to the CBDT, the government is continuously simplifying the tax system, due to which all the processes are being seen continuously.
CBDT issues refunds of over Rs. 1.14 lakh crore to more than 1.97 crore taxpayers between 1st April, 2022 to 31st Aug, 2022.
Income tax refunds of Rs. 61,252 crore have been issued in 1,96,00,998 cases &corporate tax refunds of Rs. 53,158 crore have been issued in 1,46,871 cases— Income Tax India (@IncomeTaxIndia) September 3, 2022
Nearly 6 crore returns were filed
The department has received a total of 5.83 crore income tax returns for the financial year 2021-22 till 31 July 2022. On the last day of filing returns, 72.42 lakh returns were filed, which is a record. July 31 was the last date for filing income tax returns. Initially, the pace of ITR filing was slow, but as the deadline approached, it picked up pace and a record 72.42 lakh returns were filed on the last day.
An official statement said that more than 72 lakh ITRs have been filed in a day on the last date i.e. Sunday. This year the government did not make any change in the last date for filing returns. The process of issuing refund has also been started after the last date.
