Rs 62,361 crore to be refunded by I-T department : CBDT

"In order to help taxpayers in a Covid-19 pandemic situations, the department has issued tax refunds at a speed of 76 cases per minute during this period which had 56 weekdays," the Board said. Income tax department has issued Rs 62,361 crore of pending refunds to 20.44 lakh taxpayers between April 8 and June 30, the Central Board of Direct Taxes (CBDT) said Friday.

Completely electronic refunds will be issued and have been directly deposited into the bank accounts of the taxpayers. Information like bank accounts number and reconciliation of defect/mismatch prior to issue of refund should be provided by the Taxpayers seeking their outstanding demand