IT Department to release all pending income tax refunds up to Rs 5 lakhs immediately

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IT Department to release all pending income tax refunds up to Rs 5 lakhs immediately; Around 14 lakh taxpayers to benefit

All GST & CUSTOM refunds also to be released ; to provide benefit to around 1 lakh business entities including MSMEs

Rs 18,000 crore of total refund granted immediately

By PIB Delhi

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.

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Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
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