CBDT refunds Rs 71,229 crore during Covid-19 to help taxpayers

The Central Board of Direct Taxes (CBDT) said on Friday it issued refunds worth Rs 71,229 crore in more than 21.24 lakh cases till a week ago to help taxpayers with liquidity in the Covid-19 pandemic days.

Income tax refunds amounting to Rs 24,603 crore were issued in 19.79 lakh cases to taxpayers and corporate tax refunds totalling Rs 46,626 crore in 1.45 lakh cases.

"All refunds related cleng up of tax demands are being taken up on priority and will be completed optimistically by August 31," according to an official statement.

Also, CBDT said all applications for rectifications and for giving effect to appeal orders are to be uploaded on the Income Tax Business Application (ITBA).

For quick processing of refunds, taxpayers should respond immediately to emails from the Income Tax Department.

Many taxpayers have submitted their responses electronically for rectification, appeal effects or tax credits. These are being attended in a time-bound manner. All refunds have been issued online and directly into the bank accounts of taxpayers, said CBDT in the statement.

( With inputs from ANI )