CBDT refunds over five thousand 204 crore rupees to help MSME

CBDT informed the Income-tax refunds are obtained over eight lakh small businesses worth over five thousand 204 crore rupees issued in the last ten days. Income tax refunds will help MSME to carry on their business activities without pay cuts and layoffs in COVID-19 pandemic situations. Income tax department issued nearly 14 lakh refunds up to five lakh each to date to help taxpayers.CBDT will issue refunds worth of seven thousand 760 crore rupees.

CBDT gave its request to taxpayers to respond regarding reconciliation queries about outstanding tax demands. Around one lakh 74 thousand cases, responses are awaited from taxpayers