: Income tax refunds worth Rs 5,204 cr disbursed to 8 lakh MSMEs in last 10 days: CBDT #FinanceIndia #StockMarketNEWS Income tax refunds worth Rs 5,204 cr disbursed to 8 lakh MSMEs in last 10 days: CBDT

@StockMarketNEWS Thu 23 Apr, 2020

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Income tax refunds worth Rs 5,204 cr disbursed to 8 lakh MSMEs in last 10 days: CBDT #FinanceIndia #StockMarketNEWS
Income tax refunds worth Rs 5,204 cr disbursed to 8 lakh MSMEs in last 10 days: CBDT New Delhi, Apr 18 (KNN) In a bid to help Micro Small and Medium Enterprises (MSMEs), the Central Board of Direct Taxes (CBDT) has issued Income tax refunds to nearly 8.2 lakh small businesses worth Rs 5,204 crore have been issued since April 8, 2020.

These income tax refunds would help MSMEs to carry on their business activities without pay cuts and layoffs in Covid-19 pandemic situations, CBDT said in a statement on Friday.

The tax department said that till date, it has issued nearly 14 lakh refunds up to Rs 5 lakh each in order to help taxpayers in COVID-19 pandemic situation. Keeping its focus on providing relief to the small businesses in MSME sector, CBDT will further issue refunds of Rs 7,760 Crore earliest possible.

The CBDT reiterated its request that in around 1.74 lakh cases, responses are awaited from taxpayers regarding reconciliation with their outstanding tax demand for which a reminder email has been sent asking them to respond within 7 days so that the refund can be processed earliest.

It may be noted that these responses can be provided online through the taxpayer e-filing account on: incometaxindiaefiling.gov.in, it added.

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