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.
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