Income Tax refunds worth Rs 1.62 lakh crore issued so far this fiscal

The Income Tax department on Thursday said it has issued refunds worth Rs 1.62 lakh crore to more than 1.79 crore taxpayers so far this fiscal. This includes 1.41 crore refunds for 2020-21 fiscal amounting to Rs 27,111.40 crore.

"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," the Income Tax department tweeted.

This includes personal Income Tax refunds of Rs 57,754 crore issued to over 1.77 crore entities and corporate tax refunds of Rs 1.04 lakh crore have been issued in 2.23 lakh cases.