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Income tax relief 2020 india. Representative image of new homes under construction bccl. The income tax department appeals to taxpayers not to respond to such e mails and not to share information relating to their credit card bank and other financial accounts. In the upcoming general budget 2020 21 the government is likely to announce major tax relief by changing the income tax slab structure. Customs has been labeled an essential service till june 30 2020.
Finance ministry of india has eased a few financial and regulatory compliances for individuals and companies as covid 19 has created economic uncertainty. Cbdt has come out with this circular in which. Income tax relief for individuals. Postponement of the income tax return deadline for the 2018 2019 tax year to 30 june 2020 extended from 31 march 2020 a reduced rate of interest for certain tax payments made by 30 june 2020 and a waiver of late filing penalties.
Issue of pending income tax refunds vide press note dated 08 april 2020 issued by ministry of finance. 11 2020 dated 08 05 2020 in respect of residential status for assessment year ay 2020 21 to provide nris and foreigners visiting india heave a sigh of relief. The tax relief measures include. Relief includes extension of deadlines for compliances such as income tax returns and gst returns.
India offers income tax relief for home buyers and developers to boost new property sales. E filing home page income tax department government of india. India offers income tax relief for home buyers and developers to boost new property sales. Cbdt issued income tax circular no.
Tax relief measures responding to coronavirus. Of form 15g 15h submitted by the taxpayer for fy 2019 20 would be extended for interest income received till 30 june 2020. The income tax department never asks for your pin numbers passwords or similar access information for credit cards banks or other financial accounts through e mail. Finance minister nirmala sitharaman presented an all inclusive and visionary budget laying down the roadmap to make india a 5 trillion economy.
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