CBDT: India issues income tax refunds worth Rs 1.14 lakh crore in April-August

India’s Income Tax Department said Saturday it has issued refunds worth over Rs 1.14 lakh crore to more than 1.97 crore taxpayers in the first five months of this fiscal year that started Apr. 1.

“Income tax refunds of Rs. 61,252 crore have been issued in 1,96,00,998 cases & corporate tax refunds of Rs. 53,158 crore have been issued in 1,46,871 cases,” the Income Tax Department tweeted.

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