Income Tax Refund of AY 21-22 ITR started, IT Dept seek online response

Income Tax Refund

Income Tax Refund: Income Taxpayers have been urged by the income tax department to “quickly” send online responses so that their Income Tax Refund which are pending for AY 2020-21 can be expedited. Following is the official statement by Income Tax Department in twitter-

“CBDT issues refunds of over Rs. 51,531 crore to more than 22.99 lakh taxpayers between 1st April,2021 to 23rd August,2021. Income tax refunds of Rs. 14,835 crore have been issued in 21,70,134 cases &corporate tax refunds of Rs. 36,696 crore have been issued in 1,28,870 cases. (1/5)”

“For FY2021-22, ITD has issued refunds of over Rs. 51,531 crore upto 23.08.2021. Till date, 93% of the refund claims in ITRs for AY20-21 have already been processed. In the past week,refunds of over Rs. 15,269 crore have been issued which will be credited to taxpayers shortly. (2/5)”

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“During the last year(FY 20-21), refunds of Rs. 2.62 lakh crore (increase of over 42% over FY 19-20) were issued to over 2.37 crore taxpayers. It may be noted that this included the refunds expedited in a series of measures providing relief to taxpayers during the pandemic. (3/5)”

“To resolve pending refunds of AY 20-21, ITD is in the process of communicating with taxpayers, where response from taxpayers would be required in cases involving notices for prima facie adjustments, defects, adjustment u/s 245 & refund failure due to bank account mismatch. (4/5)”

“The Deptt requests taxpayers to respond online quickly, so that ITRs in such cases of AY 20-21 can be processed expeditiously. The Deptt has also commenced processing of ITRs 1 & 4 for AY 21-22 & refunds, if any, will be issued directly to the bank account of the taxpayer. (5/5)”

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