Over 10.2 lakh refunds worth Rs 4,250 crore issued in a week: CBDT

The Central Board of Direct Taxes (CBDT) said on Wednesday it has issued over 10.2 lakh refunds totalling Rs 4,250 crore as on April 14.

These refunds are over and above the 2.5 crore refunds already issued in FY 19-20 till March 31 totalling Rs 1.84 lakh crore, it said in a statement.

CBDT about 1.75 lakh more refunds are in the process of issuance this week. These refunds will get credited directly to the taxpayer bank account in five to seven business days from issuance.

However, in about 1.74 lakh cases, e-mail responses are awaited from taxpayers regarding reconciliation with their outstanding tax demand for which a reminder email has been sent asking them to respond within seven days so that the refund can be processed accordingly.

( With inputs from ANI )