Income Tax Update – Press Release

In pursuance to the Government’s decision vide Press Note dated April 8th, 2020
to issue pending income tax refunds in order to help taxpayers in a Covid-19 pandemic
situation, the Income Tax Department has issued tax refunds at a speed of 76 cases
per minute from 8th April to 30th June, 2020. During this period of just 56 weekdays, the
Central Board of Direct taxes (CBDT) has issued refunds in more than 20.44 lakh cases
amounting to more than Rs. 62,361 crore.
It is stated that taxpayers are experiencing this facet of the I-T Department which
is not only taxpayer-friendly, but also that of a facilitator providing liquidity in this hard
time of Covid-19 pandemic. Income tax refunds amounting to Rs. 23,453.57 crore have
been issued in 19,07,853 cases to taxpayers and corporate tax refunds amounting to
Rs. 38,908.37 crore have been issued in 1,36,744 cases to taxpayers during this period.
Refunds of this magnitude and numbers have been issued completely electronically and
have been directly deposited into the bank accounts of the taxpayers. Unlike what used
to happen some years ago, in these refund cases, no taxpayer had to approach the
Department to request for release of refund. They got refunds directly into their bank
accounts.
CBDT reiterated that taxpayers should provide immediate response to emails of
the Department so that refunds in their cases too could be processed and issued right
away. Such emails of I-T Department seek taxpayers to confirm their outstanding
demand, their bank account number and reconciliation of defect/mismatch prior to issue
of refund. In all such cases, quick responses from the taxpayers would enable the I-T
Department to process their refunds expeditiously.
                                                                                                                                                    (Surabhi Ahluwalia)
                                                                                                                                  Commissioner of Income Tax
                                                                                                                                        (Media & Technical Policy)
                                                                                                                                    Official Spokesperson, CBDT