Income Tax department issues refunds worth Rs 37,050 crore till July 5

CBDT issued refunds of over Rs 37,050 crore to more than 17.92 lakh taxpayers between 1st April 2021 to 05th July 2021.

New Delhi: The income tax department has issued refunds worth Rs 37,050 crore to more than 17.92 lakh taxpayers between April 1 to July 5. Of this, personal income tax refund stood at Rs 10,408 crore, while that of corporates was Rs 26,642 crore.

"CBDT issues refunds of over Rs 37,050 crore to more than 17.92 lakh taxpayers between 1st April 2021 to 05th July 2021. Income tax refunds of Rs 10,408 crore have been issued in 16,89,063 cases & corporate tax refunds of Rs 26,642 crore have been issued in 1,03,088 cases," the I-T department tweeted.

Meanwhile, in the first four months of 2021, the Income Tax Department had issued over Rs 17,061 crore of refunds to more than 13 lakh taxpayers. Also Read: Apple iPhone 13 full series leaked? Check models, expected prices and other details

Of this, personal income tax refunds worth Rs 5,575 crore were issued in over 12.71 lakh cases and corporate tax refunds of Rs 11,486 crore were issued to 29,592 taxpayers, the Income Tax department had said in its previous notice. Also Read: From vegetables to edible oils, fuel price hike is stretching your budget in more ways than one