Income Tax Refund of upto Rs 5 Lakh to be immediately cleared | COVID19

Income Tax Refund of upto Rs 5 Lakh to be immediately cleared | COVID19 As per the official press release of Income Tax Department, Income Tax Refund of upto Rs. 5 Lakh to be immediately cleared. This relief has been provided in the context of the current situation of COVID-19. The Press release reads as follows:

Press release

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. [caption id="attachment_87880" align="aligncenter" width="913"] Income Tax Refund of upto Rs 5 Lakh to be immediately cleared | COVID19[/caption] You May Also Refer:

• Service Tax Refund is not admissible after expiry of Time limitation
• Cancellation/Surrendering of TAN [Tax Deduction and Collection Account Number]
• Gujarat High Court Grants Bail in matter of wrongful ITC Availment
• Corporate Compliance Calendar for the Month of April 2020
• TCS Rate Chart For Assessment year 2021-22 or Financial Year 2020-21
• Who is liable to deduct Tax at Source (TDS) | Who is liable to deduct TDS
• TDS Rate Chart For Assessment year 2021-22 or Financial Year 2020-21

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