All Income Tax Refunds to be complete by April

After having made 8.23 lakh refunds already in the first half of this month, the Income Tax Department today said it will settle all the pending claims in April itself.

Refunds of Rs 78,000 crore to about 85 lakh assesses were made in 2010-11.

In the first half of April, the I-T Department refunded Rs 6,183 crore to 8,23,101 assesses, Chairman of Central Board of Direct Taxes (CBDT) Sudhir Chandra told reporters here.

He said all the remaining refunds will be settled this month. “We are trying to issue all the refunds in April.”

The refunds in 2010-11 are about 70 per cent higher than Rs 50,000 crore made in the previous year.

Tag: Income Tax Refunds

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