The Income Tax (I-T) department has issued 40 lakh refunds worth Rs 25,000 crore in the current financial year to taxpayers and orders have been issued to generate the remaining few lakhs soon.
Central Board of Direct Taxes (CBDT) Chairman Sudhir Chandra gave the figures while addressing the top brass and officials of the I-T department across the country through video-conferencing from his North block office here today.
He said the department has successfully achieved the tax collection target of Rs 4.46 crore despite issuing 85 lakh refunds worth Rs 74,000 crore in 2010-11.
