In light of COVID-19, there are various Statutory and Compliance Relief Measures undertaken by the Government of India, detailed as under:
COVID-19 Relief Measures in Income Tax
On 24th March 2020, the Union Finance Minister announced several measures taken by the Government of India in view of the COVID-19 outbreak and nationwide lockdown. The relief measures related to Income tax are detailed below.
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The Ministry of Corporate Affairs has announced various COVID-19 relief measures in respect of compliances for businesses, amidst this global pandemic which is empowering the world. These measures definitely provide the much-needed support and reassurance to companies and LLP’s, registered with the Ministry. The details are stated below:
Continue reading “COVID-19 Relief Measures by the MCA”COVID-19 Relief Measures in GST
The Government has taken a pro-active approach in announcing COVID-19 Relief Measures in GST and easing out the compliance burden, which is a much-needed relief in the middle of the crisis that the world is facing currently.
The government has notified various relief measures undertaken with respect to GST Compliances. The details are elaborated here:
Continue reading “COVID-19 Relief Measures in GST”COVID-19 Relief Package by the RBI
The Reserve Bank of India announced measures to mitigate the burden of debt servicing brought about by disruptions on account of COVID-19 pandemic and to ensure the continuity of viable businesses.
The following are some of the measures provided by the Reserve Bank of India.