Income Tax Refund of Over Rs 1600 Crore Issued in Five Days


Central Board of Direct Taxes (CBDT) has informed that it has issued refunds of over Rs 1,93,720 crore to more than 2.26 crore taxpayers between 1st April, 2021 to 20th March, 2022.

Out of the amount refunded, Income tax refunds of Rs 70,977 crore have been issued in 2,23,99,122 cases, whereas corporate tax refunds of Rs 1,22,744 crore have been issued in 2,34,293 cases.

Further, this amount includes 1.85 crore refunds of AY 2021-22 amounting to Rs 38,447.27 crore.

Till 15thth March, 2022, the figure was Rs 1,92,119 crore refunds to more than 2.24 crore taxpayers. From 15th March till date, Income tax refunds issued amount to Rs 1601 crore.

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Knowledge Source :

GST on Insurance Premiums Should Be Reduced from 18% to 5% or Nil: SBI Research

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