NEW DELHI : Speeding up the income tax refund process during coronavirus pandemic, refunds worth ₹26,242 crore have been issued to 16,84,298 assessees in between April 1 and March 21.
During the period, corporate tax refunds amounting to ₹11,610 crore have been issued to 1,02,392 assessees, the Central Board of Direct Taxes (CBDT) said.
It said the refund process has been further expedited and income tax refunds are being issued at a greater pace since the finance minister Nirmala Sitharaman’s announcement made in the AatmaNirbhar Bharat Abhiyan last week.
The income tax department has released a sum of ₹2,050.61 crore in the previous week ended on 16th May, i.e., between 9th to 16th May, 2020 to 37,531 income tax assessees and a sum of