Update on Relaxation in Income Tax

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  • 09 May, 2020

Direct Tax Update

Update on Relaxation in Income Tax


24APRIL 2020



Brief background


The Government vide Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance dated 31.03.2020 has provided relief to tax payers due to spread of Novel Corona Virus.




  1. Date for making following compliances/investments is extended from 31.03.2020 to 30.06.2020


  • Filing of belated or revised return for FY 2018-19
  • Linking of Aadhaar & PAN
  • Investments under Section 80C (LIC, PPF, NSC etc.), Section 80D (Mediclaim) & Section 80G (Donations) to claim deduction in the FY 2019-20
  • Investment/Construction/Purchase to claim deduction in respect of capital gains under Section 54 to 54GB for FY 2019-20
  • Date of commencement of SEZ operations for claiming deduction under Section 10AA(Condition: Necessary approval must have been obtained by 31.03.2020)
  • Time limit to avail Vivad se Vishwas Scheme and payment without additional charge of 10%


  1. Interest on delayed payment of following taxes shall be charged at reduced rate of 9% for taxes due from 20.03.2020 to 29.06.2020 (No late fee/penalty shall be charged apart from reduced interest rate)


  • Income Tax (Advance Tax, TDS, TCS etc.)
  • Equalization Levy
  • Security Transaction Tax
  • Commodity Transaction Tax


  1. Central Board of Direct Taxes (CBDT) will revise the return forms for FY 2019-20 in order to avail the above benefits


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