I-T refunds of Rs 1.50 lakh crore issued till Jan 3 this fiscal year

The Income Tax Department on Wednesday said it has issued refunds of over Rs 1.50 lakh crore so far this fiscal year.

This includes 1.1 crore refunds of Assessment Year 2021-22 amounting to Rs 21,323.55 crore.

“CBDT issues refunds of over Rs 1,50,407 crore to more than 1.48 crore taxpayers from 1st Apr,2021 to 3rd January,2022,” the I-T department tweeted.

Of this, income tax refunds of Rs 51,194 crore have been issued in 1.46 crore cases and corporate tax refunds of Rs 99,213 crore have been issued in over 2.19 lakh cases.