New Tax Relief announced by the Finance Minister
1. Due date of all income-tax return for FY 2019-20 will be extended from 31st July, 2020 & 31st October, 2020 to 30th November, 2020 and *Tax
audit* from 30th September, 2020 to 31st
October,2020.
2. Date of assessments getting barred on 30th September,2020 extended to 31st
December,2020 and those getting barred on 31st March,2021 will be extended to 30th September,2021.
3. Period of Vivad se Vishwas Scheme for making payment without additional amount
will be extended to 31st December,2020.
4. Tax Deduction at Source (TDS) for non-salaried specified payments made to residents and rates of Tax Collection at Source (TCS) for the specified receipts shall be reduced by 25% of the existing rates.
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