INSUBCONTINENT EXCLUSIVE:
Income tax refunds worth more than Rs 90,000 crore have been issued in the current fiscalIncome Tax refunds totalling Rs 92,961 crore have
been issued to taxpayers during the current fiscal, the Central Board of Direct Taxes (CBDT) said on Thursday.These figures include refunds
of Rs 23,026 crore in 61,53,231 cases and corporate tax refunds of Rs 69,934 crore in 1,69,355 cases, the board said in a Twitter post.The
refunds were issued by CBDT worth Rs 92,961 crore to more than 63.23 lakh taxpayers for the period from April 1, 2021 to October 18,
2021."This includes 32.49 lakh refunds of assessment year 2021-22 amounting to Rs 2,498.18 crore," the department further said.Last Thursday
the government had said that more than two crore income tax returns (ITRs) have been filed through it till date and the platform has
December 31, 2021, the income tax department in a statement said that more than 1.70 crore returns have been e-verified and of these, 1.49
crore were done through Aadhaar based one-time password (OTP) system.The process of e-verification through Aadhaar OTP and other methods is
important for the department to commence processing of the ITR and to issue refunds, if any.
