Quick Summary
Refunds amounting to Rs. 26,242 crore issued since 1st April, 2020 Central Board of Direct Taxes (CBDT) has issued tax refunds worth Rs. 26,242 crore to 16,84,298 assessees since 1st April, 2020 to 21st May, 2020. Income Tax refunds amounting to Rs. 14,632 crore have been issued to 15,81,906 assessees and corporate tax refunds amounting to Rs. 11,610 crore have been issued to 1,02,392 assessees during this period. It is stated that the refund process has been further expedited and refun
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FAQ :
Since 1st April 2020, a total of £26,242 crore in tax refunds has been issued.
Nearly 1.7 million assessees (16,84,298) have received these refunds.
Income tax refunds total £14,632 crore, while corporate tax refunds amount to £11,610 crore.
Yes, the refund process has been expedited and refunds are being issued at a greater pace.
In the week ending 16th May 2020, £2050.61 crore was issued to income tax assessees and £867.62 crore to corporate tax assessees.
Between 17th and 21st May 2020, £2672.97 crore was refunded to income tax assessees and £6714.34 crore to corporate tax assessees, including trusts, MSMEs, proprietorships, and partnerships.
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