
27 Mar 2020, 18:01 — 8 min read
The Indian government has offered several relaxations under the Income Tax Act and other direct tax laws to assuage taxpayers amid the coronavirus pandemic. The government extended deadlines to file income tax returns and due dates under several direct tax statutes as well as reduced penalties, among others. The Finance Minister has announced the following relaxations under Income Tax, GST, Customs and Companies Act.
Extension of timelines for various compliance and procedures will be given. Detailed notifications will be issued by Ministry of Commerce.
Relaxations for 3 months:
It is to be noted that there is no extension in the financial year.
Image source: shutterstock.com
To explore business opportunities, link with me by clicking on the 'Invite' button on my eBiz Card.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.
Recommended articles for you