Rs 70,000 crore in income tax refunds issued, 99% claims processed: CBDT

Rs 70,000 crore in income tax refunds issued, 99% claims processed: CBDT

Country’s apex direct taxes body, CBDT said that Income tax refunds worth over ₹ 70,000 crore have been issued to the taxpayers and almost all refund claims pending as on June-end has been processed. The Income Tax Department observed a dedicated fortnight from 1 June 2018 to 15 June 2018, to expeditiously clear pending matters of appeal effect and rectification. “More than 20,000 such matters were disposed of and refunds were issued to the taxpayers, wherever due,” the tax department said. The special drive was extended in certain regions up to 30 June 2018.  Refunds in 45.07 lakh cases have been issued during April-June, 2018, including more than 3 lakh refunds cases relevant to assessment year 2018-19. 

Read More at Livemint News date : 4 Jul 2018, Wednesday

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