• Notification Date: 13-01-2022
• Notification No: N/A

1.54 Trillion Income Tax Refunds Credited

About 1.54 lakh crore of income tax refunds have been issued by the income tax department to more than 1.59crore taxpayers. The amount includes 1.20crore of returns of Assessment Year 2021-22. The sum amounts to Rs23,406.28 crore.

According to the latest tweet by the IT department, over 1,54,302crore rupees have been refunded to the taxpayers by the CBDT. The refunds have been made from 1 April 2021 to 10 January 2022.

The refund includes personal income tax of Rs. 53,689crore to over 1.56crore entities. Corporate tax refunds of Rs 1 lakh crore have been credited to about 2.21 lakh businesses.

The last date of filing the tax return reports for the year 2021-22 has ended on March 31, 2021. For individual taxpayers, the deadline was December 31, 2021. The last date of filing the returns for the corporate taxpayers was 15 March 2022.