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On Tuesday, the 31st of March, the government issued an Ordinance to bring into effect the compliance relief measures for tax payers that were announced by Nirmala Sitharaman last week. 100 percent exemption of donation to PM CARES fund is also allowed under the ordinance, established to aid containments and relief efforts against the Covid-19 outbreak. Adding to this, extension of several time limits in relevance to Direct and Indirect tax fillings have been extended till 30 June, and so has been the date for passing of an order or issuance of notice by Tax authorities under various direct and Benami law.
The government clarified, quoting ' Individuals and corporates paying concessional tax on their income of FY '20-21 under the new Ordinance can make donations to PM- cares fund till 30 June and claim deduction under Section 80G against income of FY '19-20. Taxpayer's shall not lose their eligibility to pay tax in concessional taxation regime for income of FY '20-21.
Under Direct tax relaxation,
Under Indirect tax relaxation:
In addition to extension of time limits under Taxation and Benami law, the government has enabled itself through the amended of CGST Act, 2017 on recommendation of GST council.
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