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Covid 19 Impact: IT Dept To Release All Pending Refunds Immediately

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The income tax department amid Covid 19 wherein business sentiment has been dented severely has decided to release all pending income tax refunds up to Rs. 5 lakh on an immediate basis. The move will directly benefit as many as 14 lakh taxpayers in the country.

Covid 19 Impact: Tax Dept To Release All Pending Refunds Immediately
 

Also, there has been announced that all pending GST and custom refunds shall also be released, benefitting 1 lakh business entities including SMEs.

So, as per the ministry a total of Rs. 18000 crore will be released in refund.

GoodReturns.in

Read more about: income tax income tax refund
Story first published: Wednesday, April 8, 2020, 18:24 [IST]
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