Income Tax Department issues tax refund of Rs 1.93 lakh crore till March 20

The Income Tax Department has issued tax refunds worth Rs 1.93 lakh crore to 2.26 crore taxpayers till March 20 in the current financial year (2021-22).

According to the department, of these, 1.85 crore refunds worth Rs 38,447.27 crore are for assessment year 2021-22 (the fiscal year ending March, 2022).

The Income Tax Department wrote in a tweet on Thursday, “The Central Board of Direct Taxes (CBDT) has issued refunds of Rs 1,93,720 crore to 2.26 crore taxpayers during April 1, 2021 to March 20, 2022.”

This includes personal income tax refund of Rs 70,977 crore and corporate tax refund of Rs 1,22,744 crore.