The Income Tax Department has refunded Rs 62,361 crore, benefiting 20 lakh taxpayers. This is a great relief for taxpayers in times of Corona virus epidemic crisis. This is the biggest news and the biggest relief between Corona virus and recession.
Benefit 20 lakh taxpayers
Let me tell you that the government had issued an order from April 8 informing that the pending refunds to provide relief to the taxpayers during the Corona epidemic should be released soon. Since then, the Income-tax department has issued 76 refunds per minute, meaning Rs 62,361 crore refunds to 20.44 lakh taxpayers from April 8 to June 30. The Income Tax Department has given this refund in 56 weeks.
Rupees going to the taxpayers' account
What is special about this whole refund is that the whole refund went to the taxpayers' account without any hassle and follow-up. Earlier, taxpayers had to go round the Income Tax Department.
Announced income tax returns of Rs 23,453,57 crore
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Income Tax has declared income tax returns of Rs 23,453,57 crore in 19,07,853 cases and 38,908,37 corporate tax refunds in 1,36,744 cases this year. It is a great relief for the taxpayers to come to terms with the money during this epidemic.
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