Pending I-T refunds up to ₹5 lakh to be released, to benefit 14 lakh taxpayers

All pending income tax refunds up to ₹5 lakh will be released immediately in view of the coronavirus pandemic, the Ministry of Finance has said. This will benefit around 14 lakh taxpayers. All pending GST and Custom refunds will also be released, benefitting around 1 lakh business entities. The total refund granted will be around ₹18,000 crore, the Ministry added.