Political Keeda

₹88,000 Crore income tax refund 2020: Lower tax collection not good news for the government.

The Finance Minister Nirmala Sitharaman claimed to issue over  ₹88,000 crore of refund from April 2020 onwards due to coronavirus pandemic across the state.
₹88,000 Crore income tax refund 2020: Lower tax collection not good news for the government.
Taxable income, Tax exemption in coronavirus pandemic and measures to initiate tax filing status on Gross Income and Capital Gains on accounts of charitable contributions 

Higher-income tax refunds and final approval for some of the pending housing projects completion of about 20,000 homes through the assistance under Special Window for Affordable&Mid - income Housing Funds (SWAMIH).

Under the Aatmanirbhar Bharat campaign, the government has already instructed for faster progressing of refunds to give some comfort to the individuals and businesses facing tight liquidity of cash.
 Generally, the government has to planned to speed up the economy rates to get a faster upliftment of cash around the country for its well-fare and to fill up all the pits which it has faced in different economic sectors in the pandemic situation due to lockdown across the nation.

 The government has promoted the concept of "work from home " in different IT government sectors and also initiated to plan for promoting women who want to start their career with marginal seat vacancy.
 Under the first presentation campaign, the government claimed that it issued all the pending income tax refunds up to ₹  5 lakh, and benefited around 10 lakh taxpayers.

But according to the department, there is more than ₹5 crore across country 8600 taxpayers while 326,009 individual taxpayers with an income of ₹ 50 lakh. Hence with a population of 135.26 crores and more the government should take measures to ensure that all the taxpayers pay after the economy sets properly.

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