Income Tax Refunds: Over 2 Crore Taxpayers Receive Over £2 Trillion

Quick Summary

Between 1st April 2020 and 15th March 2021, the Income Tax Department successfully processed and issued refunds totalling over Rs. 2,04,805 crore. This significant sum benefited more than 2.09 crore taxpayers across India. The refunds were split between income tax, amounting to Rs. 73,607 crore for 2,06,64,547 cases, and corporate tax, with Rs. 1,31,198 crore issued to 2,21,014 businesses.

The Income Tax Department, via their official Twitter handle, has released the figures of Income Tax Refunds made between 1st April 2020 and 15th March 2021. Know the amount of total refund and its bifurcation below:

Income Tax Refunds: Over 2 Crore Taxpayers Receive Over £2 Trillion

CBDT issues refunds of over Rs. 2,04,805 crore to more than 2.09 crore taxpayers between 1st April, 2020 to 15th March,2021. Income tax refunds of Rs. 73,607 crore have been issued in 2,06,64,547 cases & corporate tax refunds of Rs. 1,31,198 crore have been issued in 2,21,014 cases.

FAQ :

More than 2.09 crore taxpayers received refunds during this period.

The total amount of refunds issued was over Rs. 2,04,805 crore.

Rs. 73,607 crore was refunded as income tax.

Income tax refunds were issued in 2,06,64,547 cases.

Corporate tax refunds amounted to Rs. 1,31,198 crore.

Payments were made in 2,21,014 corporate tax refund cases.

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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