{"id":830,"date":"2020-03-30T18:43:32","date_gmt":"2020-03-30T18:43:32","guid":{"rendered":"https:\/\/ventureasy.com\/blog\/?p=830"},"modified":"2020-04-07T11:11:13","modified_gmt":"2020-04-07T11:11:13","slug":"covid-19-relief-measures-in-income-tax","status":"publish","type":"post","link":"https:\/\/ventureasy.com\/blog\/covid-19-relief-measures-in-income-tax\/","title":{"rendered":"COVID-19  Relief Measures in Income Tax"},"content":{"rendered":"\n<p>On 24<sup>th<\/sup> 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.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h5 class=\"wp-block-heading\"><strong>COVID-19 Relief measures related to Income Tax<\/strong>: <\/h5>\n\n\n\n<ol class=\"wp-block-list\"><li>Extension of last date for Belated\/Revised Income Tax Returns for FY 18-19 from 31st\u00a0March 2020\u00a0to 30th\u00a0June 2020.<\/li><li>Aadhaar-PAN linking date extended from 31st\u00a0March 2020 to 30th\u00a0June 2020.<\/li><li>Vivad se Vishwas\u00a0scheme\u00a0\u2013 no additional 10% amount, if payment made by June 30, 2020.<\/li><li>\u00a0Due dates for issue\u00a0 of notice, intimation, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents and time limit for completion of proceedings by the authority extended till 30<sup>th<\/sup> June, where the time limit is expiring between 20th\u00a0March 2020\u00a0 to 29th\u00a0June 2020.<\/li><li>Due date for any compliance by the taxpayer including investment in saving instruments or investments for roll over benefit of capital gains under Income Tax Act, Wealth Tax Act, Prohibition of Benami Property Transaction Act, Black Money Act, STT law, CTT Law, Equalization Levy law, Vivad Se Vishwas law shall be extended to 30th June 2020. \u00a0<\/li><li>Payment of advance tax, self-assessment tax, TDS, TCS, STT, CTT, Equalisation levy for the month of March, April, May 2020 and\u00a0payment to be made up to 30th\u00a0June 2020 shall attract reduced interest rate\u00a0at 9%\u00a0\u00a0 instead of 12 %\/18 % per annum (i.e. 0.75% per month instead of 1\/1.5 percent per month). \u00a0No late fee\/penalty shall be charged, if paid up to 30<sup>th<\/sup> June 2020. <\/li><li>Commencement of operations for SEZ units for claiming deduction u\/s 10AA which received approvals by 31<sup>st<\/sup> March 2020 has been extended to 30<sup>th<\/sup> June 2020.<\/li><\/ol>\n\n\n\n<p>The Government has taken a pro-active\napproach in dealing with the situation by coming up with these relief measures\nand easing out the compliance burden, which is a much needed relief in the\nmiddle of the crisis that the world is facing currently.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69,26,20],"tags":[],"class_list":["post-830","post","type-post","status-publish","format-standard","hentry","category-covid-19","category-gst","category-income-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>COVID-19 Relief Measures in Income Tax - VenturEasy<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/ventureasy.com\/blog\/covid-19-relief-measures-in-income-tax\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"COVID-19 Relief Measures in Income Tax - VenturEasy\" \/>\r\n<meta property=\"og:description\" content=\"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. 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