• Home
  • Salary Calculator
  • 7th Pay Commission News
  • DA News
  • OROP
  • DOPT Orders
  • Pension
  • PIB

Govtstaffnews

CENTRAL GOVERNMENT EMPLOYEES NEWS

  • Expected DA
  • Railways
  • Ministry of Finance
  • AICPIN
  • Press Release
  • NPS
  • CGHS
  • State Government News

Income Tax to release all pending income tax refunds up to Rs 5 lakhs Immediately

April 10, 2020 By govtstaffnews.in Leave a Comment

Income Tax to release all pending income tax refunds up to Rs 5 lakhs Immediately

Income Tax 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.

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.

Source: PIB

Also Read: Order u/s 119 of the Income-tax Act, 1961 (the Act) regarding submission of Form 15G and 15H for Financial Year-2020-21

  • Was this Helpful ?
  • Yes   No

Related Posts:

  • Finance Ministry issues Taxation and other Laws Ordinance,…
  • Insurance cover of Rs. 50 lakh per person for health worker…
  • Special Ex-gratia Compensation Scheme for FCI Employees
  • 1.37 Lakh EPF withdrawal claims to fight Covid-19 in less…
  • Extend the benefit of Insurance Scheme to Defence Civilian…
  • Clarification on 3 Months EMI Moratorium on all Bank Loans
  • Submission of Form 15G and 15H for Financial Year 2020-21 -…
  • Spread of COVID-19 reg - Railways
  • PM CARES FUND Donations will be admissible in Form 16 u/s…
  • RBI: Moratorium of three months on EMI of all loans as on…

Filed Under: Income Tax, Latest News, PIB Tagged With: income tax refunds, Income Tax to release all pending income tax refunds up to Rs 5 lakhs Immediately

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

EMAIL NEWSLETTER

Reservation

What is Horizontal Reservation ?


What is Vertical Reservation ?

Latest News

DoPT Clarification dated 28-07-2020 : Regularization of absence during COVID 19 lockdown period

Grant of annual increment due on 1st July to the employees retiring on 30th June of the year

Delhi High Court Dismisses Plea against Freezing of DA and DR

Stepping up of pay of senior Assistants of CSS drawing less pay on promotion

Red Cross offering Engagement opportunities to retired Officers

More Latest News

DOPT Orders

Stepping up of pay of senior Assistants of CSS drawing less pay on promotion

Extension of tenure of officers appointed under the Central Staffing Scheme or through CSB procedure

iGOT (Integrated Govt. Online Training) courses on DIKSHA on COVID-19

Preventive measures for COVID-19 for PSUs and Financial Institutions

DOPT Order – Retirement of Government Servants on 31st March,2020

More DOPT Orders

PIB

Raksha Mantri Shri Rajnath Singh approves abolition of 9304 posts in Military Engineering Service

Special Ex-gratia Compensation Scheme for FCI Employees

1.37 Lakh EPF withdrawal claims to fight Covid-19 in less than 10 days

Income Tax to release all pending income tax refunds up to Rs 5 lakhs Immediately

‘Aadhaar’ will now be accepted as valid proof of date of birth in PF Records

More News

Ministry of Finance

No Hike in Dearness Allowance and Dearness Relief till July 2021

GPF Interest at the rate of 7.1 Percent from 1st April 2020

Submission of Form 15G and 15H for Financial Year 2020-21 – CBDT Clarification

Revision of interest rates for Small Savings Schemes – Ministry of Finance

Budget Allocation under Grant No.37 – Pensions for 2020-21

More News

CGHS

Extension of Validity of CGHS Card till 31st July 2020

CGHS Card validity extended till 30th April 2020 in view of the COVID-19

Reimbursement of OPD medicines to CS (MA) beneficiaries

Extension of Validity of CGHS Card in view of COVID-19

Validity period of empanelment of CGHS Health Care Organizations

More News

Copyright © 2017 - Central Government Employees News