Govt brings in ordinance to provide tax relief

RSTV Bureau
New Delhi: Finance Minister Nirmala Sitharaman addresses media on cabinet decisions at Shastri Bhawan, in New Delhi, Wednesday, March 4, 2020. (PTI Photo)

New Delhi: Finance Minister Nirmala Sitharaman addresses media on cabinet decisions at Shastri Bhawan, in New Delhi, Wednesday, March 4, 2020. (PTI Photo)

The Government on Tuesday brought in an Ordinance to give effect to the various financial packages announced by Finance Minister Nirmala Sitharaman on March 24.

President Ram Nath Kovind gave assent to the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance 2020.

The ordinance allows for the extension of various time limits under the Taxation and Benami Acts.
It also provides for extending the last date for filing of original as well as the revised income-tax returns for 2018-19 to June 30.

The ordinance also amends the Income Tax Act, allowing 100 per cent deduction on donations to the PM-CARES Fund.

The ordinance was made necessary after the Finance Minister announced various relief measures in view of the Coronavirus crisis relating to income tax payments, GST and customs and central excise compliance.

The reliefs include extension of the date for claiming deductions under section 80G, including donations, till June 30.

Similarly, donations made up to June 30 will also be eligible for deduction from income of Financial Year 2019-20.

June 30 is the last date for linking the Aadhaar-PAN numbers, furnishing Central Excise returns due in March, April and May and also for passing of orders or notices by authorities under various direct taxes and the Benami law.

(Last Updated: 18:55; April 1, 2020)