I-T refunds worth Rs 5,649 crore issued during April 1-19

The Income Tax Department on Wednesday said it has issued refunds of over Rs 5,649 crore to 7.39 lakh taxpayers during April 1-19, 2021-22.

Of this, personal income tax refunds worth Rs 3,073 crore were issued in 7.23 lakh cases and corporate tax refunds of Rs 2,577 crore were issued to 15,206 taxpayers.

"CBDT issues refunds of over Rs 5,649 crore to more than 7.39 lakh taxpayers between 1st April, 2021 to 19th April, 2021," the I-T department tweeted.

In the previous fiscal year which ended on March 31, 2021, the department had issued Rs 2.62 lakh crore worth refunds to more than 2.38 crore taxpayers.

The refund issued in last financial year is 43.2 per cent higher than Rs 1.83 lakh crore issued in 2019-20.