The government has brought in an ordinance which provides for extension of various time limits under the Taxation and Benami Acts. It also provides for extension of time limits contained in the Rules or Notification which are prescribed/ issued under these Acts.
Daily Current Affairs Quiz 2020
Time limits related to direct and indirect tax filings, passing of order or issuance of notice by tax authorities have been extended to June 30. Taxpayers can also avail the Sabka Vishwas Legal Dispute Resolution Scheme 2019 till June 30, giving more time to settle their indirect tax disputes. Donations made to PM Cares fund will be 100% exempted of the income tax. The limit on deduction of 10% of gross income shall also not be applicable for such donations.
