Categories: Business

Covid-19: Income tax department gives relief to 20 lakh taxpayers, refunds of more than 62 thousand crores

Photo: GOOGLE

Income Tax Department Refunded Rs. 62,361 crore to more than 20 lakh taxpayers amid COVID-19 pandemic

new Delhi. To help taxpayers during the corona virus epidemic, the Income Tax Department has expedited pending income tax refunds. The Income Tax Department has set a new record of speed by disposing of 76 cases per minute during April 8 to June 30, 2020. Central Board of Direct Taxes (CBDT) has given an income tax refund of Rs 62,361 crore to 20.44 lakh taxpayers during 56 working days.

Finance Minister Nirmala Sitharaman tweeted on Friday that the Income Tax Department has given an income tax refund of Rs 62,361 crore to over 20 lakh income tax payers. He said that income tax refund of Rs 23,453.57 crore has been given to 19,07,853 income tax payers, while corporate tax refund of Rs 38,908.37 crore has been done in 1,36,744 cases.

With this fast and such a large number of refunds have been deposited completely electronically directly into the bank account of the income tax payer. The minister has said that the income tax payers can understand that the income tax department is not only their partner, but also providing liquidity during the corona virus epidemic.

The CBDT has stated that the income tax payers should respond to the emails sent by the department immediately so that the refund can be processed in their case and issued correctly. In such an email sent by the Income Tax Department, the income tax payers confirm their outstanding demand, bank account number etc. In all cases, the quick response from the Income Tax payers helps the Income Tax Department to process their refund quickly.

This post was published on July 3, 2020 2:18 pm

Content Team

Recent Posts

sebi extends deadline to apply for 147 senior level post

Photo: PTI (FILE) Sebi extends deadline to apply for senior level post new Delhi. Capital market regulator SEBI has again…

75 percent of hospitality jobs are at risk due to corona crisis

Photo: PTI corona crisis new Delhi. In the Corona era, the sword is hanging on the jobs of about 75…

40 crore bank account added under PMJDY in 6 years

Photo: PTI 40 crore bank account added under PMJDY in 6 years new Delhi. Six years after the launch of…