Income Tax Refunds Worth Rs 92,961 Crore Issued In 2021

Income tax returns of more than Rs 90,000 are made in the current fiscal year.

The Central Commission for Direct Taxation (CBDT) announced Thursday that a total of 92,961 rupees in income tax returns had been paid to taxpayers in the current fiscal year.

The board said in a Twitter post that the amounts included refunds of Rs 61,53,231 23,026 and Rs 1,69,355 including 69,934 corporate tax returns.

From December 1, 2021 to October 18, 2021, CBDT returns RUR 92,961 to taxpayers above RUR 6,323,000.

“This includes a claw back of 32.49 million rupees, which is 2,498.18 rupees from 2021-22,” the agency added.

Last Thursday, the government said the platform was “significantly stable” as more than one income tax return (ITR) had been filed.

In a statement, the income tax office urged taxpayers to file tax returns for the 2020-21 fiscal year at the earliest with a deadline of 31 December 2021 and an electronic review of tax returns of more than 170 million rupees. They said it. 149 million rupees was earned through the Aadhaar-based one-time password (OTP) system.

The electronic verification process with OTP Aadhaar and other methods is important so that the department can start processing the ITR and pay all refunds.