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.
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
The post Income Tax Refund of upto Rs 5 Lakh to be immediately cleared | COVID19 appeared first on Studycafe.
from Studycafe https://ift.tt/3bYBpFh
No comments:
Post a Comment