I-T refunds worth ₹ 1.64 lakh crore issued to 1.41 crore taxpayers till Jan 4

The Income Tax department on Wednesday said it has issued refunds worth over ₹ 1.64 lakh crore to over 1.41 crore taxpayers so far this fiscal. This includes Personal income tax (PIT) refunds amounting to ₹ 53,070 crore and corporate tax refunds of over ₹ 1.10 lakh crore during this period. “CBDT issues refunds of over ₹ 1,64,016 crore to more than 1.41 crore taxpayers between 1st April, 2020 to 04th January, 2021. Income tax refunds of ₹ 53,070 crore have been issued in 1,38,85,044 cases & corporate tax refunds of ₹ 1,10,946 crore have been issued in 2,06,847 cases,” the Income Tax department tweeted. The Department on Tuesday had said that over 5 crore income tax returns (ITRs) for fiscal year 2019-20 have been filed till January 4. The government has extended the ITR filing deadline for individuals till January 10, and for companies till February 15.