New Delhi : The Income-tax department has repaid more than Rs 84,781 crore to more than 59.51 lakh taxpayers in the current financial year (2021-22) till October 11. This figure is for returns made between 1 April 2021 and 11 October 2021. Of this, personal income tax returns were Rs 22,214 crore, while corporate tax returns were Rs 62,567 crore.
More than Rs 84,781 crore returned to taxpayers
The CBDT remitted more than Rs 84,781 crore to more than 59.51 lakh taxpayers between April 1, 2021 and October 11, 2021, the Income Tax Department tweeted. Income tax returns of Rs 22,214 crore were issued in 57,83,032 cases and corporate tax returns of Rs 62,567 crore were issued in 1,67,718 cases. It may be recalled that in the last financial year 2020-21, the Income-tax department had issued tax returns of Rs 2.62 lakh crore to 2.38 crore taxpayers. This is 43.2 per cent higher than the return of Rs 1.83 lakh crore released in FY 2019-20.
More than two crore ITR filings on the new portal
At the same time, the Income Tax Department said on Thursday that more than two crore ITRs have been filed so far for the financial year 2020-21 and a number of issues related to the performance of the new IT portal have been resolved. The CBDT appealed to the taxpayers to file their income tax returns as early as possible for the financial year 2020-21 (April 2020-March 2021) and said that all ITRs have been made available for e-filing.
1.70 crore ITR was e-verified
The CBDT has said that ITR-1 and 4 86 per cent are among the more than two crore ITRs filed on the new portal for the financial year 2021-22. Of this, e-verification of more than Rs 1.70 crore has also been done. Of these, 1.49 crore returns were verified through Aadhar Card Based One Time Password (OTP). The process of e-verification through Aadhar Card OTP and other methods is required by the department to initiate the process of ITR and issue a refund.
Issued a refund of over Rs 36 lakh
Out of verified ITR-1 and 4, more than 1.06 crore ITRs have been processed. More than 36.22 lakh returns have been issued for the assessment year 2021-22. The process of ITR-2 and 3 will be started soon. The new portal was launched on June 7, 2021 and initially taxpayers had reported irregularities in the operation of the portal. The CBDT said that many technical issues have been resolved and the portal’s performance has stabilized to a large extent. As on October 13, more than 13.44 crore taxpayers have logged in and about 54.70 lakh taxpayers have recovered their passwords, the board said.
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Income tax department sent Rs 84,781 crore to taxpayers till October 11, did you get the money in your account?