The aforesaid Bill was duly passed by the Parliament and on receiving assent of the President of India on it became the Act. In order to validate the Ordinance and above refereed notifications, a Bill called “The Taxation and Other Laws (Relaxation of Certain Provision) Bill, 2020” was introduced in the Parliament. Thereafter, a notification dated was issued by the government further extending time limit for certain compliances under the Income Tax Act.A notification dated was also issued subsequently by the Central Government further extending time limit for filing return of income for A.Y.2019-20. Therefore, an Ordinance dated called “The Taxation and Other Laws (Relaxation of Certain Provision) Ordinance, 2020” was promulgated providing that any action or compliance, due date for which was falling between to, shall be extended to or any other date as may be further extended by the Central Government by way of notification. On account of COVID-19 there was complete lockdown w.e.f. author has also identified a few important issues which need the attention of CBDT and suggested the action required to be taken by it This will help avoid confusion and prevent unintended breaches of the law by taxpayers. Gupta has methodically set out in a tabular format all the extended due dates. The disruption caused by Covid-19 has compelled the Government to extend from time to time the due dates for various compliances.
0 Comments
Leave a Reply. |