I-T department issues refunds worth Rs 2.24 lakh crore
According to the finance act 2021, section 72A of the Income-tax Act, 1961 was amended to deal with the amalgamation of a public sector company (PSU) which ceases to be a PSU (erstwhile public sector company), as part of strategic disinvestment, with one or more company or companies and carry forward of losses in case of change in shareholding following sale by the government.
New Delhi: The Income Tax department on Wednesday said it has issued refunds worth over Rs 2.24 lakh crore to more than 2.37 crore taxpayers till March 29 in the current fiscal year. This include Rs 85,012 crore personal income tax refunds to 2.33 crore taxpayers and Rs 1.39 lakh crore worth corporate tax refunds in 2.85 lakh cases.
“CBDT issues refunds of over Rs 2,24,829 crore to more than 2.37 crore taxpayers between 1st April, 2020 to 29th March, 2021,” the I-T department tweeted.
Published: March 31, 2021, 20:25 IST
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