According to official data released on 27th January, the Central Board of Direct Taxes (CBDT) has issued Rs 1.62 lakh crore (US$ 21.60 billion) in income tax refunds to over 1.79 million taxpayers till January 24, 2022 of the current fiscal year.
It claimed that income tax refunds totalling Rs 57,754 crore (US$ 7.68 billion) were provided in 1,77,35,899 cases, while corporate tax refunds totalling Rs 1,04,694 crore (US$ 13.92 billion) were issued in 2,23,952 cases. This comprises 1.41 crore refunds totalling Rs 27,111.40 crore (US$ 3.606 billion) for the Assessment Year 2021-22.
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