Income Tax payers ALERT! CBDT refunded over Rs 37,050 crore to more than 17.92 lakh taxpayers between April 1 and July 5

The Central Board of Direct Taxes (CBDT), the statutory authority functioning under the Central Board of Revenue Act, 1963, has refunded over Rs 37,050 crore to more than 17.92 lakh taxpayers over the span of the past three months. The refund by CBDT has been made for the period between April 1, 2021 and July 5, 2021, said Income Tax India on Thursday, July 8. 

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With these refunds, as many as 10,408 crore have been issued in 16,89,063 cases, while 1,03,088 cases received corporate tax refunds of Rs. 26,642 crore.  

Informing about the refunds made by CBDT, Income Tax India took to twitter and posted, "CBDT issues refund of over Rs. 37,050 crore to more than 17.92 lakh taxpayers between 1st April, 2021 to 05th July, 2021. Income tax refunds of Rs. 10,408 crore have been issued in 16,89,063 cases & corporate tax refunds of Rs. 26,642 crore have been issued in  1,03,088 cases." 

CBDT issues refunds of over Rs. 37,050 crore to more than 17.92 lakh taxpayers between 1st April, 2021 to 05th July, 2021. Income tax refunds of Rs. 10,408 crore have been issued in 16,89,063 cases & corporate tax refunds of Rs. 26,642 crore have been issued in 1,03,088 cases.

— Income Tax India (@IncomeTaxIndia) July 8, 2021

The Central Board of Revenue as the apex body of the Department, charged with the administration of taxes, came into existence as a result of the Central Board of Revenue Act, 1924. Initially the Board was in charge of both direct and indirect taxes. However, later the board was split up into two, namely the Central Board of Direct Taxes and Central Board of Excise and Customs with effect from 1.1.1964. 

Earlier on July 5, the CBDT has granted further relaxation in electronic filing of forms 15CA & 15CB in view of difficulties faced by taxpayers in filing of the forms online on incometax.gov.in.

Date for submission of forms in manual format to the authorised dealers has been extended to July 15, 2021. 

"In view thereof, taxpayers can now submit the said Forms in manual format to the authorized dealers till 15th July, 2021. Authorized dealers are advised to accept such Forms till 15th July, 2021 for the purpose of foreign remittances. A facility will be provided on the new e-filing portal to upload these forms at a later date for the purpose of generation of the Document Identification Number," had said a statement from Central Board of Direct Taxes, Ministry of Finance, Department of Revenue,