I-T refunds worth over Rs 1.25 lakh crore issued in FY21 to 38.23 lakh taxpayers till October 20

The Income Tax department on Wednesday said it has issued refunds worth over Rs 1.25 lakh crore to over 38 lakh taxpayers so far this fiscal. This include personal income tax (PIT) refunds amounting to Rs 33,870 crore and corporate tax refunds amounting to Rs 91,599 crore during this period.

"CBDT issues refunds of over Rs. 1,25,470 crore to more than 38.23 lakh taxpayers between 1st April, 2020 to 20th October, 2020. Income tax refunds of Rs. 33,870 crore & corporate tax refunds of Rs. 91,599 crore have been issued during the said period," the Central Board of Direct Taxes (CBDT) said in a tweet.

The government has emphasised on providing tax related services without any hassles during the COVID-19 pandemic, and accordingly has been clearing up pending tax refunds.