I-T Department to immediately issue pending refunds up to Rs 5 lakh

Tribune News Service
New Delhi, April 8

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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, said an official news release.

The government also 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.

“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,” an official statement said.

It has 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, it added.

There have been about 150 deaths in India due to COVID-19 pandemic and over 5,000 positive cases. With PTI inputs