<p>A move that is expected to help about 14 lakh taxpayers fight the COVID-19 emergency, the Centre will issue all the pending income-tax refunds up to Rs 5 lakh immediately.</p>.<p>In the context of the COVID-19 situation and with a view to provide immediate relief to the business entities and individuals, the government has decided to pay the sum immediately, a finance ministry statement said.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-news-live-updates-the-situation-in-the-country-is-akin-to-a-social-emergency-says-pm-modi-817763.html">Follow live updates on coronavirus</a></p>.<p>An income tax refund is due to an individual when the tax deducted from his or her income in a particular financial year is higher than his/her total income tax liability.</p>.<p>To get the excess tax as a refund, an individual is required to file an income tax return.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/national/coronavirus-india-update-state-wise-total-number-of-confirmed-cases-deaths-on-april-8-822699.html">Coronavirus India update: State-wise total number of confirmed cases, deaths</a></strong></p>.<p>The statement said it has also been decided to issue all pending GST and Custom refunds which would provide benefit to around one lakh business entities, including small and medium businesses. Thus, the total refund granted will be approximately Rs 18,000 crore.</p>
<p>A move that is expected to help about 14 lakh taxpayers fight the COVID-19 emergency, the Centre will issue all the pending income-tax refunds up to Rs 5 lakh immediately.</p>.<p>In the context of the COVID-19 situation and with a view to provide immediate relief to the business entities and individuals, the government has decided to pay the sum immediately, a finance ministry statement said.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-news-live-updates-the-situation-in-the-country-is-akin-to-a-social-emergency-says-pm-modi-817763.html">Follow live updates on coronavirus</a></p>.<p>An income tax refund is due to an individual when the tax deducted from his or her income in a particular financial year is higher than his/her total income tax liability.</p>.<p>To get the excess tax as a refund, an individual is required to file an income tax return.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/national/coronavirus-india-update-state-wise-total-number-of-confirmed-cases-deaths-on-april-8-822699.html">Coronavirus India update: State-wise total number of confirmed cases, deaths</a></strong></p>.<p>The statement said it has also been decided to issue all pending GST and Custom refunds which would provide benefit to around one lakh business entities, including small and medium businesses. Thus, the total refund granted will be approximately Rs 18,000 crore.</p>
