I-T refunds of Rs 1.14 lakh crore issued between April-August

The Income Tax department has issued refunds of over Rs 1.14 lakh crore in the first five months of this fiscal.

“CBDT (Central Board of Direct Taxes) issues refunds of over Rs. 1.14 lakh crore to more than 1.97 crore taxpayers between 1st April, 2022 to 31st Aug, 2022,” the I-T department tweeted.

This include personal and corporate refunds amounting to Rs 61,252 crore and Rs 53,158 crore respectively.