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CBDT Issues Refunds of Over Rs 1,01,308 Crore to More Than 27.55 Lakh Taxpayers Between April 1 to September 8

Team Latestly
·2-min read

New Delhi, September 9: The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1,01,308 crore to more for a period between April 1, 2020, to September 8, 2020. These refunds have been given to more than 27.55 lakh taxpayers. Income tax refunds amounting to Rs 30,768 crore issued in 25,83,507 cases, while corporate tax refunds of Rs.70,540 crore have been issued in 1,71,155 cases. CBDT Issued Refunds of Over Rs 95,853 Cr to More Than 25.55 Lakh Taxpayers in India Between April 1 and August 25: Income Tax Dept.

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The Finance Ministry had earlier stated that in view of the issues arising out of the COVID-19 pandemic, the emphasis is being given on releasing all refunds at the earliest possible time period. Last month, assured income tax officials that implementation of the new faceless and contactless tax administration would not cause any large-scale movement of officers or officials and all the changes would be done within the existing manpower preferably at the existing locations. New ITR Filing Criteria Introduced by Narendra Modi Govt From This Year; Individuals Need to File ITR Even If Minimum Income Does Not Fall Under Tax Slab; Here's Why.

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Also Read | Income Tax Return Filing Update: Finance Ministry Provides 'ITR Filing Compliance Check' Functionality for Commercial Banks to Keep Track of Cash Withdrawals by Non-Filers

PM Narendra Modi in August launched the platform for "Transparent Taxation - Honouring the Honest" that aims to ease tax compliance with faceless assessment, faceless appeal and a taxpayers' charter. The new system has raised fears that wide-scale digitalisation of tax administration may result in scaling down manpower and job cuts.

Under the new faceless system, even tax scrutiny and assessment would be decided by an online system so that direct interface between the taxpayer and the administrator is reduced. Also, this is expected to reduce allegations of bias of tax authority against taxpayers.