In these unprecedented crucial times of the ongoing pandemic, the tax payers are facing multiple challenges in meeting the compliance requirements. To address such challenges, the Hon’ble Finance Minister announced certain relief measures in the press release dated 24.03.2020 to provide statutory and regulatory compliance relaxations to the tax payers in the wake of COVID-19 outbreak.
In light of the above, on 31.03.2020, Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 was promulgated to provide for extension of various time limits under the Taxation and other Laws. In this regard, where any time limits for statutory and regulatory compliances specified in or prescribed in or notified under the Specified Act falls during the period from 20.03.2020 to 29.06.2020 (“Specified Period”), such limits have been extended to 30.06.2020 or such other date after 30.06.2020 as Central Government may, be notification, specify in this behalf in certain cases.