CBDT to issue all pending income-tax refunds up to Rs. 5 lakh. GST/Custom refunds also to be issued
Government of India
Ministry of Finance
Department of Revenue
New Delhi, the 08th April, 2020
PRESS NOTE
CBDT to issue all pending income-tax refunds up to Rs. 5 lakh
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.
- SC condoned delay of 972 days in filing appeal due to restructuring in Department
- No addition on mere valuation report when stamp duty valuation is available
- ITAT deleted penalty for making a wrong claim of deduction u/s 54F/54B
- Value of taxable supply and rates notified Pan Masala / tobacco products
- CBIC issues SOP for wearing Body Cam by Custom officers in Baggage Clearance
