Keeping in view the existing outstanding income tax refunds, the government will save at least Rs40 billion in compensation in just one year. However, the income tax refunds have been outstanding for at least 10 years and the relief will translate into hundreds of billions of rupees. Outstanding income tax and sales tax refunds remain one of the contentious issues between the government and the business community. After remand of the matter, the deputy commissioner income tax passed a refund order in March 2013. The petitioner filed tax returns along with refund applications for tax years 2004 to 2008.

Source: The Express Tribune April 24, 2020 01:30 UTC