All Pending Income Tax Refunds Up To Rs 5 Lakh To Be Released Immediately

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All Pending Income Tax Refunds Up To Rs 5 Lakh To Be Released Immediately

In a measure that is expected to provide relief to the taxpayers, the government on Wednesday decided to release all pending income tax refunds up to Rs 5 lakh immediately.

In a press note released by the finance ministry, the government said that the move will benefit as many as 14 lakh taxpayers. 

Besides, all pending GST and custom refunds will also be released benefiting close to 1 lakh businesses, the note stated. The total refund amount will be to  the tune of Rs 18,000 crore, finance ministry said.



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