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

The Income Tax department on Wednesday (April 8) said it will immediately issue pending refunds up to ₹5 lakh, benefitting around 14 lakh taxpayers.

The government will also issue pending GST and customs refunds of ₹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 ₹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 ₹18,000 crore, it added.

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

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