Income Tax Refunds: Over £1.5 Trillion Issued to 13 Million

Quick Summary

The Income Tax Department has announced that over £1.56 lakh crore (approximately £1.56 trillion) in refunds have been issued to more than 1.33 crore taxpayers. This period covers from 1st April 2020 to 27th December 2020. The refunds include both income tax and corporate tax payments.

The Income Tax Department, via their official Twitter handle, has released the figures of Income Tax Refunds made between 1st April 2020 and 27th December 2020. Know the amount of total refund and their bifurcation below:

Income Tax Refunds: Over £1.5 Trillion Issued to 13 Million

CBDT issues refunds of over Rs. 1,56,624 crore to more than 1.33 crore taxpayers between 1st April,2020 to 27th December,2020. Income tax refunds of Rs. 50,554 crore have been issued in 1,31,11,050 cases & corporate tax refunds of Rs. 1,06,069 crore have been issued in 2,03,334 cases

FAQ :

Over Rs. 1,56,624 crore (approximately £1.56 trillion) has been issued as refunds.

More than 1.33 crore (13.3 million) taxpayers received refunds.

The data covers the period from 1st April 2020 to 27th December 2020.

Income tax refunds amounted to Rs. 50,554 crore for over 1.31 crore cases, and corporate tax refunds totalled Rs. 1,06,069 crore for over 2 lakh cases.

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