Transfer Pricing News
IT Department to release all pending income tax refunds up to Rs 5 lakhs immediately ; Around 14 lak
(27 Apr 2020, 15:47 Hours IST)
08 APR 2020 6:16 PM 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.