Tax refunds of Rs 14,332 cr issued till Aug 5 this year

Tax refunds of Rs 14,332 crore have been issued this year till August 5, the Finance Ministry said today.
"The Central Processing Centre (CPC) Bengaluru has already issued over 54.35 lakh refunds totaling to Rs 14,332 crore which includes 20.81 lakh refunds for AY 2016-17 (current year returns) totaling to Rs 2,922 crore till August 5, 2016," the ministry said in a release.
The ministry said that over 75 lakh taxpayers availed the facility of e-verification of IT returns this year till August 5 against around 33 lakh taxpayers last year till September 7.
"Of these Aadhar based e-verification was used by 17.68 lakh taxpayers during the current year as against 10.41 lakh taxpayers during the same period in 2015-16," it said.

"In addition to these, 3.32 lakh returns were digitally signed. Thus, over 35 per cent of taxpayers have already completed the entire process of return submission electronically," it added.
The ministry said that in total, 226.98 lakh e-returns had been filed in FY 2016-17 as compared to 70.97 lakh for the same period in FY 2015-16.
It said the revenue department encourages all taxpayers who have submitted their ITRs to use the e-verification as an easy alternative to sending their ITR-V form to CPC, Bengaluru.