Rediff.com  » Business » Pending I-T refunds up to Rs 5 lakh to be paid asap

Pending I-T refunds up to Rs 5 lakh to be paid asap

Source: PTI
April 08, 2020 18:52 IST
Get Rediff News in your Inbox:

The income tax department on Wednesday said it will immediately issue pending refunds up to Rs 5 lakh, benefitting around 14 lakh taxpayers. 

The government will also issue pending GST and customs refunds of Rs 18,000 crore to provide relief to business entities. 

 

“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 MSMEs. Thus, the total refund granted will be approximately Rs 18,000 crore, it added.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2020 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
SHARE THIS STORY