Income tax department has released tax refund of Rs 95,853 crore to 25.55 lakh taxpayers in the current financial year so far.

23.05 lakh personal income taxpayers were given a refund of Rs 28,180 crore
Income tax department has to settle all tax refund cases by 31 August

The Income Tax Department said on Friday that so far a refund of Rs 95,853 crore has been issued in the current financial year. This refund has been received by over 25.55 lakh taxpayers. According to the statement released by the Central Board of Direct Taxes (CBDT) on Wednesday, a refund of Rs 29,361 crore has been given to 23.91 lakh taxpayers as personal income tax. At the same time, corporate tax refund of Rs 66,493 crore has been given to more than 1.63 lakh taxpayers.

All cases of refunds are to be
settled by 31 August . In view of the circumstances arising out of Kovid-19 and lockdown, the Finance Ministry directed to dispose of income tax refund cases at the earliest. After this, CBDT has set a target to complete all refund related cases by 31 August 2020, taking priority. In order to complete the refund process quickly, the Income Tax Department has asked all taxpayers to reply to the e-mail sent by the department as soon as possible.

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If you have not yet received the refund, then check the status of your refund

Check like this

First of all go to https://ift.tt/1btzjs7.
Here the PAN number and the year for which the refund is due will have to be filled.
Now you have to fill the captcha code given below.
After this, the status will come on clicking Proceed.
Refund status can also be checked on the site of income tax department

First go to the website https://ift.tt/1dxxFKf.
Log in to your account by entering details like PAN, password and captcha code. Click on ‘Review Returns / Forms’.
Select ‘Income Tax Return’ from the drop down menu. Select the assessment year for which you want to check your income tax refund status.
After this, click on your enrollment number i.e. hyper link.
A pop-up will appear on your screen which will show the timeline of the filing of the return.
Such as when your ITR was filed and verified, the date of completion of processing, the date of refund issue, etc.
What is refund?

The company deducts an estimated part of the tax from its salary and pays it to the government account in advance, while paying salaries to its employees throughout the year. Employees file income tax returns at the end of the year, in which they state how much they owe as taxes. If the actual liability is less than the amount of tax deducted earlier, the remaining amount is refunded to the employee.

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