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The I-T department has said income tax refunds of over Rs 1,44,328 crore have been issued to 1.38 crore taxpayers from April 01, 2021 to December 20, 2021 of this fiscal. This includes 99.75 lakh refunds of Assessment Year (AY) 2021-22 (fiscal ended March 31, 2021) amounting to Rs 20,451.95 crore.

As the December 31 is the last date for filing income tax returns (ITRs) for individual taxpayers for the financial year 2021, the department has reported that there has been surge in e-filing and 46.77 lakh returns were filed in the last seven days. So far, more than 4 crore Income tax returns for 2020-21 fiscal (ended March 2021) have been filed till December 21.

The department said income tax refunds of Rs 49,194 crore have been issued to 1,35,35,261 entities and corporate tax refunds of Rs 95,133 crore have been issued in over 2.11 lakh cases. Recently, the Income Tax department had issued Rs 1.37 lakh crore in tax refunds for the period starting April to December 13 this fiscal.