The Income Tax department has refunded as much as Rs 72,000 crore to tax payers across the country in 2009-10, Central Board of Direct Taxes (CBDT) Chairman Sudhir Chandra said here. “The Income Tax department has improved its tax refund rate and Rs 72,000 crore have been refunded to tax payers in the fiscal year 2009-10 against Rs 57,000 in the previous financial year,” Chandra said addressing the 63rd outgoing batch of Indian Revenue Services (IRS), here yesterday at the National Academy of Direct Taxes.

Chandra said the tax collection has gone up rapidly and this fiscal which ended on March 31, 2011, the booty was to the tune of Rs 4.50 lakh crore against a target of Rs 4.46 lakh crore which was revised from Rs 4.30 lakh crore.

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