Many taxpayers are complaining on social media that they filed income tax returns (ITRs) around 4-5 months ago but are yet to get refunds. The Central Board of Direct Taxes (CBDT) tweeted on Wednesday that it has issued refunds worth ₹ 1,73,139 crore to more than 15.7 million taxpayers between 1 April 2020 to 11 January 2021. Income tax refunds of ₹ 57,139 crore have been issued in 15,455,577 cases and corporate tax refunds of ₹ 1,15,999 crore have been issued in 210,150 cases. However, many taxpayers are complaining on social media that they filed income tax returns (ITRs) around 4-5 months ago but are yet to get refunds. However, we reported in December that some taxpayers are getting refunds within a week’s time. We reported that the ITRs are being processed faster and refunds are being issued within a week’s time. Tarun Kumar, a Delhi-based chartered accountant, told Mint in December, “We have seen people getting refunds in a week’s time. Something we h...
We seeks higher interests in financial services, taxation, GST, I-T, etc. Writes articles with depth knowledge and is extensive for the same, Writing from observations and researching makes our articles virtuous.