According to the Central Board of Direct Taxes, an increase of 81 percent has been registered in tax refunds compared to the previous year in the same period.
New Delhi: The government is issuing tax refunds to the taxpayers at a fast pace. The government has released Rs 1.53 lakh crore as refund till April 2022, October 2022. According to the Central Board of Direct Taxes, an increase of 81 percent has been registered in refunds as compared to the same period. Between April and October, the Income Tax Department has issued a total of 4 tax refund amounts, in which refund has been issued thrice in the month of September itself.
In the country, it is mandatory for a person who earns more than 2.5 lakh rupees in a year to file income tax return. According to the Ministry of Finance, for the financial year 2022-23, more than 5.83 crore taxpayers have filed ITR by the due date 31 July. Whereas, with a large number of late fees, taxpayers have filed ITR even with delay. The Income Tax Department is giving tax refund to the taxpayers who file ITR.
Rs 1.53 lakh crore tax refund issued
Releasing the data, the Income Tax Department has said that from 1 April 2022 to 8 October 2022, Rs 1.53 lakh crore has been released to the taxpayers in the form of tax refund. According to the Central Board of Direct Taxes, this figure of tax refund is 81 percent more than the previous year in the same period.
Tax refund issued from April 4 times from now on
According to the Central Board of Direct Taxes, in September, tax refunds have been issued to taxpayers on September 19, September 8 and September 3. Whereas, refund has also been issued on 8th of October. In this way, during April to October 2022, Rs 1.53 lakh crore has been issued as refunds to the taxpayers.
- Over Rs 1.35 lakh crore refunds issued till 19 September 2022.
- Till September 8, Rs 1.19 lakh crore has been released as tax refund.
- Tax refund of Rs 1.14 crore issued till 3rd September.
- Rs 1.53 lakh crore tax refund issued till 8 October 2022.
