Income tax refunds up 42% at Rs 1.42 lakh crore

As many as 4.01 crore ITRs were e-filed till February 10, 2017

The income tax department has issued refunds to the tune of Rs. 1.42 lakh crore so far this fiscal till February 10, 41.5 per cent higher than last year's.

The Centralised Processing Centre (CPC) of the tax department has already processed over 4.19 crore income tax returns (ITRs) and issued over 1.62 crore refunds during the current financial year up to February 10, 2017.

     

"The amount of refunds issued at Rs. 1.42 lakh crore is 41.5 per cent higher than the corresponding period last year," an official statement said.

     

As much as 92 per cent of the refunds issued