Quick Summary
The Central Board of Taxes released a notification saying that the Income Tax Department will refund pending Income Tax Refund Claims up to Rs 5lacs due to the outbreak of COVID-19. CBDT claimed that it has issued Income Tax Refunds worth Rs 4,250 crores in just a week. Here is what the officila press release read. Over 10.2 lakh Refunds worth Rs 4,250 crore issued in a week by CBDT to help taxpayers in COVID-19 pandemic situation In pursuance to the Governments decision vide Press Note on
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FAQ :
The CBDT has issued Income Tax Refunds worth approximately £4,250 crore.
Over 10.2 lakh taxpayers have received their Income Tax Refunds.
These refunds are being issued to help taxpayers during the COVID-19 pandemic situation.
Refunds will be credited directly to the taxpayer's bank account within 5-7 business days from issuance.
You should check your email and log in to your e-filing account to respond promptly to the Income Tax Department, especially if they are seeking confirmation on outstanding demands or tax claims.
Yes, these emails are part of a necessary routine process to seek taxpayer responses on defective ITRs, adjustments, or confirmations of claims, enabling the department to process refunds expeditiously.
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