New Delhi: The Central Board of Direct Taxes (CBDT) has issued refunds worth Rs 71,229 crore in more than 21.24 lakh cases up to 11th July 2020, to help taxpayers with liquidity in Covid-19 pandemic days, since the government’s decision of 8th April 2020 to issue pending income tax refunds at the earliest, said an official statement.
Income tax refunds amounting to Rs 24,603 crore have been issued in 19.79 lakh cases to taxpayers and corporate tax refunds amounting to Rs 46,626 crore in 1.45 lakh cases have been issued to taxpayers during COVID days.
It is stated that the government has laid great emphasis on providing tax-related services to the taxpayers without any hassles and is aware that during these difficult times of the Covid-19 pandemic, many of the taxpayers are waiting to see that their tax demands and refunds reach finality as quickly as possible.
It is further emphasized that all the refund-related cleaning up of the tax demands are being taken up on priority and is likely to be completed by 31st August 2020. Also, all applications for rectifications and for giving effect to appeal orders are to be uploaded on the ITBA. It has been decided to do all the work of rectification and appeal effect on ITBA only.
It is reiterated that taxpayers, for quick processing of their refunds, should provide an immediate response to the emails of the I-T Department.
A quick response from the taxpayer in this regard would facilitate the I-T Department to process their refunds expeditiously.
Many taxpayers have submitted their responses electronically for rectification, appeal effects, or tax credits. These are being attended to in a time-bound manner.
All refunds have been issued online and directly into the bank accounts of the taxpayers.