scorecardresearch
Follow Us:
Friday, June 05, 2020

Ordinance to give full deduction for donation to PM-CARES promulgated

The Ordinance, which got presidential assent Tuesday, also amended the provisions of the Income-tax Act to provide the same tax treatment to the PM-CARES Fund as available to the Prime Minister’s National Relief Fund.

By: ENS Economic Bureau | New Delhi | Published: April 1, 2020 3:24:44 am
coronavirus india lockdown, coronavirus update, PM-CARES, PM-CARES fund, PM-CARES donation,Income Tax Return, File ITR With the promulgation of the Ordinance, the last date for filing I-T returns for FY19 as well as that for linking PAN with biometric ID Aadhaar has been extended by three months to June 30. (File Photo)

The government on Tuesday promulgated the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 to bring into effect various tax compliance related measures — including extended deadline for filing income tax, customs and central excise returns — announced on March 24 in the wake of COVID-19 pandemic.

The Ordinance, which got presidential assent Tuesday, also amended the provisions of the Income-tax Act to provide the same tax treatment to the PM-CARES Fund as available to the Prime Minister’s National Relief Fund. “The donation made to the PM-CARES Fund shall be eligible for 100 per cent deduction under section 80G of the I-T Act. Further, the limit on deduction of 10 per cent of gross income shall also not be applicable for donation made to PM-CARES Fund,” an official statement said.

With the promulgation of the Ordinance, the last date for filing I-T returns for FY19 as well as that for linking PAN with biometric ID Aadhaar has been extended by three months to June 30.

Here’s a quick Coronavirus guide from Express Explained to keep you updated: What can cause a COVID-19 patient to relapse after recovery? | COVID-19 lockdown has cleaned up the air, but this may not be good news. Here’s why | Can alternative medicine work against the coronavirus? | A five-minute test for COVID-19 has been readied, India may get it too | How India is building up defence during lockdown | Why only a fraction of those with coronavirus suffer acutely | How do healthcare workers protect themselves from getting infected? | What does it take to set up isolation wards?

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement