As a relief to MSMEs, income tax refunds worth Rs.5,204 crore

As a relief to MSMEs, income tax refunds worth Rs.5,204 crore have been issued by CBDT in the last 10 days to nearly 8.2 lakh small businesses (proprietors, firms, corporate & trusts)since 8th April, 2020 in view of COVID-19 situation.

These refunds would help MSMEs to carry on their business activities without pay cuts/layoffs in Covid-19 pandemic situation. Pursuant to Govt's decision of 8.4.2020, ITDeptt has issued nearly 14lakh refunds upto Rs.5lakh each,till dt, to help taxpayers as #IndiaFightsCorona

Keeping its focus on providing relief to small businesses in MSME sector, CBDT will further issue refunds of Rs. 7,760 crore at the earliest possible.Taxpayers are requested to provide online responses through their e-filing a/c on http://incometaxindiaefiling.gov.in, wherever required.