{"id":228073,"date":"2020-04-08T18:28:40","date_gmt":"2020-04-08T12:58:40","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=228073"},"modified":"2020-04-08T22:23:22","modified_gmt":"2020-04-08T16:53:22","slug":"covid-19-income-tax-department-to-release-all-pending-income-tax-refunds-up-to-rs-5-lakhs-immediately","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/04\/08\/covid-19-income-tax-department-to-release-all-pending-income-tax-refunds-up-to-rs-5-lakhs-immediately\/","title":{"rendered":"COVID 19 | Income Tax Department to release all pending income tax refunds up to Rs 5 lakhs immediately"},"content":{"rendered":"<p style=\"text-align: justify;\">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.<\/p>\n<p style=\"text-align: justify;\">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.<\/p>\n<hr \/>\n<p><strong>Ministry of Finance<\/strong><\/p>\n<p style=\"text-align: right;\">[Press Release dt. 08-04-2020]<\/p>\n<p style=\"text-align: right;\">[Source: PIB]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the context of the COVID-19 situation and with a view to provide immediate relief to the business entities and individuals, it <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[39924,40583,40582],"class_list":["post-228073","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-notifications","tag-covid-19","tag-immediate-relief","tag-income-tax-refunds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin 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LIVE UPDATES: FOCUS: Migrant Workers, Street vendors, Small Farmer, Self Employed, Traders, etc. 9 Steps will be announced.\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/05\/ECONOMIC-PACKAGE.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":229437,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/13\/finance-minister-may-announce-details-of-rs-20-lakh-crore-relief-announced-by-prime-minister-stay-tuned\/","url_meta":{"origin":228073,"position":1},"title":"BREAKING | Decoding of Rs 20 Lakh Crore Economic Package| New Definition of MSMEs; Tax filing due date extended to 30th November, 2020","author":"Bhumika Indulia","date":"May 13, 2020","format":false,"excerpt":"Background: Amidst the Corona crisis, PM announced\u00a0 a special economic package with a new resolution. This economic package will serve as an important link in the 'AtmaNirbhar Bharat Abhiyan\u201d (Self Reliant India Campaign)'. What the Prime Minister said about the package? 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Affordable Housing 1. Three concessions in the scheme of Income Tax exemption for affordable housing: (a) Area of 30 and 60 Sq.mtr. to be counted as carpet area and not built-up area; (b) 30\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":237986,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/10\/24\/extension-of-due-date-of-furnishing-of-income-tax-returns-and-audit-reports\/","url_meta":{"origin":228073,"position":5},"title":"Extension of due date of furnishing of Income Tax Returns and Audit Reports","author":"Bhumika Indulia","date":"October 24, 2020","format":false,"excerpt":"In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (\u2018the Ordinance\u2019) on 31-03-2020 which, inter alia, extended various time limits. The Ordinance has since\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/Income-Tax-Department-Logo.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/Income-Tax-Department-Logo.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/Income-Tax-Department-Logo.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/Income-Tax-Department-Logo.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/Income-Tax-Department-Logo.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/228073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=228073"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/228073\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=228073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=228073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=228073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}