The COVID-19 Novel Corona Virus Pandemic has not just affected the day-to-day lives of the people but has been severely impacting the economy also. With most of the nation under lockdown mode, people have not been able to go to work and the sources of income of most people have been impacted. Daily wage labourers and even salaried employees are facing the heat. The Government has been working on different fronts to provide relief to the people in this tough time and as a latest measure, it has been announced that all pending income tax returns would be released immediately! This move is sure to be a welcome relief to over 14 lakh taxpayers. 

Government decides to immediately release pending income tax refunds

Similarly, all the pending GST returns and customs returns will also be released by the Centre and this is sure to be welcomed by all those who stand to benefit from it. This exercise is said to be aimed at disbursing over Rs. 18000 Crores worth of total tax refunds. The maximum cap has been placed at Rs. 5 lakhs, for the tax refunds and all those whose returns are Rs. 5 Lakhs or less, would be able to benefit from this new order. A number of Micro, Small & Medium Enterprises (MSME), will also be benefited by this decision. Stay tuned for further updates...

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