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Pending Income Tax Refunds Up To Rs 5 Lakh to Be Released Immediately

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All pending income tax refunds upto Rs 5 lakhs would be released immediately, the income tax department said in a release today.

"In the context of the COVID-19 situation and with a view to provide immediate relief to the

business entities and individuals, it has been decided to issue all the pending income-tax

refunds up to Rs. 5 lakh, immediately. This would benefit around 14 lakh taxpayers. It has

also been decided to issue all pending GST and Custom refunds which would provide benefit

 

to around 1 lakh business entities, including MSME. Thus, the total refund granted will be

approximately Rs. 18,000 crore," the release stated.

Pending Income Tax Refunds Up To Rs 5 Lakh to Be Released Immediately
Read more about: income tax tax
Story first published: Wednesday, April 8, 2020, 19:12 [IST]
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