The Centre has announced that it is to issue all the pending income-tax refunds up to how much rupees to provide immediate relief to the business entities and individuals?

The Centre has announced that it is to issue all the pending income-ta

1.	The Centre has announced that it is to issue all the pending income-tax refunds up to how much rupees to provide immediate relief to the business entities and individuals?
Answer» The Centre has announced that it is to issue all the pending income-tax refunds up to Rs.5 lakh immediately. The move by the Centre is to provide immediate relief to the business entities and individuals.An income tax (I-T) refund is due to a taxpayer/individual when the tax deducted from his/her income in a particular financial year is higher than his/her total income tax liability. The I-T refunds will benefit around 14 lakh taxpayers across India.