Tax refunds worth Rs 26k cr issued: Central Board of Direct Taxes

Of this, Income Tax refunds amounting to Rs 14,632 cr have been issued to 15,81,906 assessees and corporate tax refunds amounting to Rs 11,610 cr have been issued to 1,02,392 assessees, a release said. It is stated the refund process has been further expedited and refunds are being issued at a greater pace since the Finance Minister Nirmala Sitharaman’s announcement made in the AatmaNirbhar Bharat Abhiyan last week. CBDT has released a sum of Rs 2050.61 cr to 37,531 income tax assessees and a sum of Rs. 867.62 crore to 2878 corporate tax assessees in the previous week ended on 16 May, (between 9 and May 16, 2020) .

From 17 to May 21, 2020, yet another 1,22,764 income tax assessees were refunded Rs. 2672.97 cr and 33,774 corporate tax assessees including trusts and MSMEs, were issued refunds worth Rs 6714.34 crore, taking the total amount refunded to Rs 9387.31 crore in the case of 1,56,538 assessees, it said.