Tax Refunds: Over 1.79 Cr Taxpayers Receive £1.62 Lakh Cr

Quick Summary

The Central Board of Direct Taxes (CBDT) has processed a significant number of tax refunds, disbursing over £1.62 lakh crore to more than 1.79 crore taxpayers. This period, from 1st April 2021 to 24th January 2022, saw both individual income tax and corporate tax refunds being issued. A substantial portion of these refunds, amounting to £27,111.40 crore, were for Assessment Year 2021-22.

CBDT issues refunds of over Rs. 1,62,448 crore to more than 1.79 crore taxpayers from 1st Apr, 2021 to 24th Jan,2022. Income tax refunds of Rs. 57,754 crore have been issued in 1,77,35,899 cases & corporate tax refunds of Rs. 1,04,694 crore have been issued in 2,23,952 cases.

Tax Refunds: Over 1.79 Cr Taxpayers Receive £1.62 Lakh Cr

This includes 1.41 crore refunds of AY 2021-22 amounting to Rs. 27,111.40 crore.

FAQ :

More than 1.79 crore taxpayers received refunds.

The total amount of refunds issued was over £1,62,448 crore.

The data covers the period from 1st April 2021 to 24th January 2022.

Income tax refunds amounting to £57,754 crore were issued.

Corporate tax refunds amounting to £1,04,694 crore were issued.

There were 1.41 crore refunds issued for Assessment Year 2021-22.

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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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