• Latest
  • Trending
All You Need To Know About RACP Bill No.116 Of 2020

All You Need To Know About RACP Bill No.116 Of 2020

September 29, 2020
Tarot Reading 11th January 2021 – 17th January 2021

Tarot Reading 11th January 2021 – 17th January 2021

January 11, 2021
Male Contraceptive Pills To Be Available In 2021

Male Contraceptive Pills To Be Available In 2021?

January 6, 2021
Eco-activist Greta Thunberg Turns 18

Eco-activist Greta Thunberg Turns 18, Hoping 2021 To Be The “Year Of Awakening”

January 4, 2021
ISRO and space hub reform

ISRO And The Emergence Of A New Era In The Indian Space Hub

January 3, 2021
Dr Sufi Sayyad News Aur Chai

Being an actor, you always want to do roles which are being enacted by the legendary actors: Dr Sufi Sayyad

January 3, 2021
Recap of main events in 2020

Recap of the Main Highlights of 2020

January 1, 2021
Channelled Reading 2021

Channelled Reading For Year 2021

January 1, 2021
Night curfew imposed on Delhi during new years eve

Night Curfew imposed on Delhi to limit New Year celebrations

December 31, 2020
New Zealand

New Zealand Declares Climate Emergency

December 29, 2020
One Sun One World One Grid Project

Solar Energy Project “One Sun, One World, One Grid”: A Guide

December 29, 2020
e v ramasamy

EV Ramasamy: Controversial Bequest Of Periyar

December 28, 2020
Farmers protest

Farmers Protest: Is blocking entry point a justified way to protest?

December 28, 2020
  • Home
  • Magazine
  • Get Featured
  • About Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms of Service
News Aur Chai
Saturday, January 16, 2021
  • Home
  • News
    • All
    • Business
    • City
    • India
    • Sports
    • Startups
    • Technology
    • World
    Eco-activist Greta Thunberg Turns 18

    Eco-activist Greta Thunberg Turns 18, Hoping 2021 To Be The “Year Of Awakening”

    Recap of main events in 2020

    Recap of the Main Highlights of 2020

    Night curfew imposed on Delhi during new years eve

    Night Curfew imposed on Delhi to limit New Year celebrations

    New Zealand

    New Zealand Declares Climate Emergency

    Farmers protest

    Farmers Protest: Is blocking entry point a justified way to protest?

    Justdial Indiamart Case 2020 | News Aur Chai

    Justdial And Indiamart in Legal Conflict

    AIIMS Nurses protest

    All you need to know about the AIIMS’ Nurses Strike

    Supreme Court suggests setting an impartial panel to resolve farmers protest

    Supreme Court Suggests Setting Up “Impartial” Panel To Resolve Farm Protests

    Bharat Biotech Phase 1 trial successful

    Bharat Biotech’s Covaxin Show Favourable Results in Phase-1 Trials

    • News
    • Business
    • City
    • India
    • Sports
    • Startups
    • Technology
    • World
  • Vichar
    • All
    • Doosra Pehlu
    • Explainer
    • Kalam Se
    • Real Heroes
    Male Contraceptive Pills To Be Available In 2021

    Male Contraceptive Pills To Be Available In 2021?

    ISRO and space hub reform

    ISRO And The Emergence Of A New Era In The Indian Space Hub

    One Sun One World One Grid Project

    Solar Energy Project “One Sun, One World, One Grid”: A Guide

    e v ramasamy

    EV Ramasamy: Controversial Bequest Of Periyar

    IRS S.K. Srivastava CBI Case

    Alleged Corruption and Forceful Retirement : Saga of IRS officer S K Srivastava

    PM Cares fund comes under debate as private or public entity

    Doubts Raised Over The PM CARES Fund- Public Or Private?

    Punjab scientist Varinder Pal declines award amid farmers protest

    Agricultural Scientist Varinder Pal declines award from Union Minister amid largescale farm protest

    BJP TMC Bengal Election

    Fate Of West Bengal: TMC’s Regionalism Or BJP’s Gujrat Model?

    Justin Trudeau India Farm Bill Comment

    Canada’s Remark on Farm bill: Concerning or interfering?

    • Vichar
    • Doosra Pehlu
    • Explainer
    • Kalam Se
    • Real Heroes
  • Interviews
    • All
    • Chai Pe Charcha
    • LiteNote
    • Startup Connect
    • VoLocals
    Fully baked

    Fully Baked: Taste the Professionalism of Baking!

    Khojdeal : India's largest deal discovery platform

    Introducing Khojdeal : Bringing Visibility to Hyperlocal MSMEs With Affiliate Marketing

    Taste Sweet Delicacies This Festive Season With Paistika

    Taste Sweet Delicacies This Festive Season With Paistika

    ImpactGuru: Crowdfunding Primarily For Medical Relief Of Poor

    ImpactGuru: Crowdfunding Primarily For Medical Relief Of Poor

    ‘Beyond Scraps’: Express Your Emotions Creatively

    ‘Beyond Scraps’: Express Your Emotions Creatively

    Introducing Dina Udupa; Sustainable Fashion Brand Based In UK

    Introducing Dina Udupa; Sustainable Fashion Brand Based In UK

    TASE: Rhythmic Story Of A Dream Come True!

    TASE: Rhythmic Story Of A Dream Come True!

    ‘Iinkha By Suzanna’: A Writer Who Creates Handmade ‘Clay Products’

    ‘Iinkha By Suzanna’: A Writer Who Creates Handmade ‘Clay Products’

    Introducing IRIS: Computer Vision Made In India

    Introducing IRIS: Computer Vision Made In India

    • Chai Pe Charcha
    • LiteNote
    • Startup Connect
  • Entertainment
    • All
    • Bollywood
    • Events
    • Hollywood
    • Movies & Music
    Dr Sufi Sayyad News Aur Chai

    Being an actor, you always want to do roles which are being enacted by the legendary actors: Dr Sufi Sayyad

    Bombay High Court has granted relief to Kananga Ranaut in a plea filed against Brihanmumbai Municipal Corporation (BMC) for demolishing her Bandra office property

    Bombay high court slams BMC for illegal demolition of Kangana Ranaut’s Property

    Controversial Bollywood Parties Show Link Of Drugs and Alcohol

    Controversial Bollywood Parties Show Link Of Drugs and Alcohol

    SuperStar E Awards 2020 To Honor Unsung Heroes Of Pandemic

    SuperStar E Awards 2020 To Honor Unsung Heroes Of Pandemic

    Return of #MeToo Movement: Anurag Kashyap Vs Payal Ghosh

    Return of #MeToo Movement: Anurag Kashyap Vs Payal Ghosh

    Campaign #Plants4SSR Fulfil One Of Sushant Singh Rajput's Dreams

    What Is #Plants4SSR? Who All Are Involved In This Campaign?

    Bigg Boss 14: Salman Khan

    Bigg Boss 14: Salman Khan Is Here With A Release Date And Promises To Solve All Our Problems

    What's So Amusing About Big B In The Sets Of KBC?

    What’s So Amusing About Big B In The Sets Of KBC?

    Akshay Kumar Joins Bear Grylls "Into The Wild"

    Akshay Kumar Joins Bear Grylls On An Adventure Journey For ‘Into The Wild’

    • Entertainment
    • Hollywood
    • Bollywood
    • Movies & Music
    • Events
  • Lifestyle
    • All
    • Fashion
    • Health
    • Indian History
    • Relationships
    • Tarot Reading
    • Travel
    Tarot Reading 11th January 2021 – 17th January 2021

    Tarot Reading 11th January 2021 – 17th January 2021

    Channelled Reading 2021

    Channelled Reading For Year 2021

    Tarot Reading 14th December 2020 – 20h December 2020

    Tarot Reading 14th December 2020 – 20th December 2020

    Tarot Reading 6th December 2020 - 13th December 2020

    Tarot Reading 7th December 2020 – 13th December 2020

    Tarot Reading 30th November 2020 – 6th December 2020

    Tarot Reading 30th November 2020 – 6th December 2020

    Tarot Reading 23rd November 2020 – 29th November 2020

    Tarot Reading 23rd November 2020 – 29th November 2020

    When Do You Know You Are An Avid Reader?

    When Do You Know You Are An Avid Reader?

    Tarot Reading 16th November 2020 – 22nd November 2020

    Tarot Reading 16th November 2020 – 22nd November 2020

    Tarot Reading 9th November 2020 – 15th November 2020

    Tarot Reading 9th November 2020 – 15th November 2020

    • Fashion
    • Relationships
    • Indian History
    • Travel
  • Corona
    Delhi COVID-19 Third Wave: Capital Struggles With Protest, Pollution Amid Pandemic

    Delhi COVID-19 Third Wave: Capital Struggles With Protest, Pollution Amid Pandemic

    COVID-19 Vaccine May Not End Pandemic - Why? Here Is The Answer

    COVID-19 Vaccine May Not End Pandemic – Why? Here Is The Answer

    Countries Leading In Race For COVID-19 Vaccine Across Globe

    Countries Leading In Race For COVID-19 Vaccine

    India Must Cut Pollution To Avoid COVID-19 Disaster This Winter

    India Must Cut Pollution To Avoid COVID-19 Disaster This Winter – Studies Shows

    Child Marriage: Catastrophic Consequence Of COVID-19

    Child Marriage: Catastrophic Consequence Of COVID-19 Pandemic

    Global COVID-19: WHO Reports Record Daily Rise In New Infections

    Global COVID-19: WHO Reports Record Daily Rise In New Infections

    5 Best Fitness App To Try During This Pandemic

    5 Best Fitness Apps To Try During This Pandemic

    Sputnik-V: Russia Claims 1st Coronavirus Vaccine, But Before Complete Trial

    Sputnik-V: Russia Claims 1st Coronavirus Vaccine, But Before Complete Trial

    PPE Kit, E-passes: Travelling In Time Of Coronavirus

    PPE Kit, E-passes: Travelling In Time Of Corona

  • More
    • All
    • College Events
    AIESEC Chennai Youth Speak Forum 2020

    Youth-Speak Forum 2020 by AIESEC

    Girl Script Patiala Hack4She

    Hack4She: Event Coverage

    Girl Script Patiala Hack4She

    Hack4She: Virtual Hackathon To Find Solutions To Women’s Problems

    Girl Script Patiala Hack4She

    Hack4She: Code For Cause of Women

    MANIT Version Beta 2020

    MANIT’s Technical Conclave – Version Beta Is Back

    Mehfil e lockdown ABVP Delhi

    MEHFIL-E-LOCKDOWN – An Event by ABVP Unit of SBSE College

    CodeShastra 6.0 DJ. Sanghvi College

    Participate in CodeShastra and win prizes worth Rs. 2 lakhs

    SRCC CA Confluence'20: 'Achieve and Inspire'

    SRCC CA Confluence’20: ‘Achieve and Inspire’

    Chimara

    MANIT’s Chimera is back

    • College Events
    • Press Release
  • VoLocals
    Fully baked

    Fully Baked: Taste the Professionalism of Baking!

    Khojdeal : India's largest deal discovery platform

    Introducing Khojdeal : Bringing Visibility to Hyperlocal MSMEs With Affiliate Marketing

    Taste Sweet Delicacies This Festive Season With Paistika

    Taste Sweet Delicacies This Festive Season With Paistika

    ‘Beyond Scraps’: Express Your Emotions Creatively

    ‘Beyond Scraps’: Express Your Emotions Creatively

    TASE: Rhythmic Story Of A Dream Come True!

    TASE: Rhythmic Story Of A Dream Come True!

    ‘Iinkha By Suzanna’: A Writer Who Creates Handmade ‘Clay Products’

    ‘Iinkha By Suzanna’: A Writer Who Creates Handmade ‘Clay Products’

    Humble Beginnings To An Eco-friendly Future – Story Of ZerowasteShop

    Humble Beginning To An Eco-friendly Future – Story Of Zerowasteshop India

    “Recycling Artist”: Lad Who Transforms ‘Litters’ Into ‘Glitters’

    “Recycling Artist”: A Lad Who Transforms ‘Litters’ Into ‘Glitters’

    ‘SUGAR N SPICE’: Catering To Your Taste Buds

    ‘SUGAR N SPICE’: Catering All Things Nice!

No Result
View All Result
  • Home
  • News
    • All
    • Business
    • City
    • India
    • Sports
    • Startups
    • Technology
    • World
    Eco-activist Greta Thunberg Turns 18

    Eco-activist Greta Thunberg Turns 18, Hoping 2021 To Be The “Year Of Awakening”

    Recap of main events in 2020

    Recap of the Main Highlights of 2020

    Night curfew imposed on Delhi during new years eve

    Night Curfew imposed on Delhi to limit New Year celebrations

    New Zealand

    New Zealand Declares Climate Emergency

    Farmers protest

    Farmers Protest: Is blocking entry point a justified way to protest?

    Justdial Indiamart Case 2020 | News Aur Chai

    Justdial And Indiamart in Legal Conflict

    AIIMS Nurses protest

    All you need to know about the AIIMS’ Nurses Strike

    Supreme Court suggests setting an impartial panel to resolve farmers protest

    Supreme Court Suggests Setting Up “Impartial” Panel To Resolve Farm Protests

    Bharat Biotech Phase 1 trial successful

    Bharat Biotech’s Covaxin Show Favourable Results in Phase-1 Trials

    • News
    • Business
    • City
    • India
    • Sports
    • Startups
    • Technology
    • World
  • Vichar
    • All
    • Doosra Pehlu
    • Explainer
    • Kalam Se
    • Real Heroes
    Male Contraceptive Pills To Be Available In 2021

    Male Contraceptive Pills To Be Available In 2021?

    ISRO and space hub reform

    ISRO And The Emergence Of A New Era In The Indian Space Hub

    One Sun One World One Grid Project

    Solar Energy Project “One Sun, One World, One Grid”: A Guide

    e v ramasamy

    EV Ramasamy: Controversial Bequest Of Periyar

    IRS S.K. Srivastava CBI Case

    Alleged Corruption and Forceful Retirement : Saga of IRS officer S K Srivastava

    PM Cares fund comes under debate as private or public entity

    Doubts Raised Over The PM CARES Fund- Public Or Private?

    Punjab scientist Varinder Pal declines award amid farmers protest

    Agricultural Scientist Varinder Pal declines award from Union Minister amid largescale farm protest

    BJP TMC Bengal Election

    Fate Of West Bengal: TMC’s Regionalism Or BJP’s Gujrat Model?

    Justin Trudeau India Farm Bill Comment

    Canada’s Remark on Farm bill: Concerning or interfering?

    • Vichar
    • Doosra Pehlu
    • Explainer
    • Kalam Se
    • Real Heroes
  • Interviews
    • All
    • Chai Pe Charcha
    • LiteNote
    • Startup Connect
    • VoLocals
    Fully baked

    Fully Baked: Taste the Professionalism of Baking!

    Khojdeal : India's largest deal discovery platform

    Introducing Khojdeal : Bringing Visibility to Hyperlocal MSMEs With Affiliate Marketing

    Taste Sweet Delicacies This Festive Season With Paistika

    Taste Sweet Delicacies This Festive Season With Paistika

    ImpactGuru: Crowdfunding Primarily For Medical Relief Of Poor

    ImpactGuru: Crowdfunding Primarily For Medical Relief Of Poor

    ‘Beyond Scraps’: Express Your Emotions Creatively

    ‘Beyond Scraps’: Express Your Emotions Creatively

    Introducing Dina Udupa; Sustainable Fashion Brand Based In UK

    Introducing Dina Udupa; Sustainable Fashion Brand Based In UK

    TASE: Rhythmic Story Of A Dream Come True!

    TASE: Rhythmic Story Of A Dream Come True!

    ‘Iinkha By Suzanna’: A Writer Who Creates Handmade ‘Clay Products’

    ‘Iinkha By Suzanna’: A Writer Who Creates Handmade ‘Clay Products’

    Introducing IRIS: Computer Vision Made In India

    Introducing IRIS: Computer Vision Made In India

    • Chai Pe Charcha
    • LiteNote
    • Startup Connect
  • Entertainment
    • All
    • Bollywood
    • Events
    • Hollywood
    • Movies & Music
    Dr Sufi Sayyad News Aur Chai

    Being an actor, you always want to do roles which are being enacted by the legendary actors: Dr Sufi Sayyad

    Bombay High Court has granted relief to Kananga Ranaut in a plea filed against Brihanmumbai Municipal Corporation (BMC) for demolishing her Bandra office property

    Bombay high court slams BMC for illegal demolition of Kangana Ranaut’s Property

    Controversial Bollywood Parties Show Link Of Drugs and Alcohol

    Controversial Bollywood Parties Show Link Of Drugs and Alcohol

    SuperStar E Awards 2020 To Honor Unsung Heroes Of Pandemic

    SuperStar E Awards 2020 To Honor Unsung Heroes Of Pandemic

    Return of #MeToo Movement: Anurag Kashyap Vs Payal Ghosh

    Return of #MeToo Movement: Anurag Kashyap Vs Payal Ghosh

    Campaign #Plants4SSR Fulfil One Of Sushant Singh Rajput's Dreams

    What Is #Plants4SSR? Who All Are Involved In This Campaign?

    Bigg Boss 14: Salman Khan

    Bigg Boss 14: Salman Khan Is Here With A Release Date And Promises To Solve All Our Problems

    What's So Amusing About Big B In The Sets Of KBC?

    What’s So Amusing About Big B In The Sets Of KBC?

    Akshay Kumar Joins Bear Grylls "Into The Wild"

    Akshay Kumar Joins Bear Grylls On An Adventure Journey For ‘Into The Wild’

    • Entertainment
    • Hollywood
    • Bollywood
    • Movies & Music
    • Events
  • Lifestyle
    • All
    • Fashion
    • Health
    • Indian History
    • Relationships
    • Tarot Reading
    • Travel
    Tarot Reading 11th January 2021 – 17th January 2021

    Tarot Reading 11th January 2021 – 17th January 2021

    Channelled Reading 2021

    Channelled Reading For Year 2021

    Tarot Reading 14th December 2020 – 20h December 2020

    Tarot Reading 14th December 2020 – 20th December 2020

    Tarot Reading 6th December 2020 - 13th December 2020

    Tarot Reading 7th December 2020 – 13th December 2020

    Tarot Reading 30th November 2020 – 6th December 2020

    Tarot Reading 30th November 2020 – 6th December 2020

    Tarot Reading 23rd November 2020 – 29th November 2020

    Tarot Reading 23rd November 2020 – 29th November 2020

    When Do You Know You Are An Avid Reader?

    When Do You Know You Are An Avid Reader?

    Tarot Reading 16th November 2020 – 22nd November 2020

    Tarot Reading 16th November 2020 – 22nd November 2020

    Tarot Reading 9th November 2020 – 15th November 2020

    Tarot Reading 9th November 2020 – 15th November 2020

    • Fashion
    • Relationships
    • Indian History
    • Travel
  • Corona
    Delhi COVID-19 Third Wave: Capital Struggles With Protest, Pollution Amid Pandemic

    Delhi COVID-19 Third Wave: Capital Struggles With Protest, Pollution Amid Pandemic

    COVID-19 Vaccine May Not End Pandemic - Why? Here Is The Answer

    COVID-19 Vaccine May Not End Pandemic – Why? Here Is The Answer

    Countries Leading In Race For COVID-19 Vaccine Across Globe

    Countries Leading In Race For COVID-19 Vaccine

    India Must Cut Pollution To Avoid COVID-19 Disaster This Winter

    India Must Cut Pollution To Avoid COVID-19 Disaster This Winter – Studies Shows

    Child Marriage: Catastrophic Consequence Of COVID-19

    Child Marriage: Catastrophic Consequence Of COVID-19 Pandemic

    Global COVID-19: WHO Reports Record Daily Rise In New Infections

    Global COVID-19: WHO Reports Record Daily Rise In New Infections

    5 Best Fitness App To Try During This Pandemic

    5 Best Fitness Apps To Try During This Pandemic

    Sputnik-V: Russia Claims 1st Coronavirus Vaccine, But Before Complete Trial

    Sputnik-V: Russia Claims 1st Coronavirus Vaccine, But Before Complete Trial

    PPE Kit, E-passes: Travelling In Time Of Coronavirus

    PPE Kit, E-passes: Travelling In Time Of Corona

  • More
    • All
    • College Events
    AIESEC Chennai Youth Speak Forum 2020

    Youth-Speak Forum 2020 by AIESEC

    Girl Script Patiala Hack4She

    Hack4She: Event Coverage

    Girl Script Patiala Hack4She

    Hack4She: Virtual Hackathon To Find Solutions To Women’s Problems

    Girl Script Patiala Hack4She

    Hack4She: Code For Cause of Women

    MANIT Version Beta 2020

    MANIT’s Technical Conclave – Version Beta Is Back

    Mehfil e lockdown ABVP Delhi

    MEHFIL-E-LOCKDOWN – An Event by ABVP Unit of SBSE College

    CodeShastra 6.0 DJ. Sanghvi College

    Participate in CodeShastra and win prizes worth Rs. 2 lakhs

    SRCC CA Confluence'20: 'Achieve and Inspire'

    SRCC CA Confluence’20: ‘Achieve and Inspire’

    Chimara

    MANIT’s Chimera is back

    • College Events
    • Press Release
  • VoLocals
    Fully baked

    Fully Baked: Taste the Professionalism of Baking!

    Khojdeal : India's largest deal discovery platform

    Introducing Khojdeal : Bringing Visibility to Hyperlocal MSMEs With Affiliate Marketing

    Taste Sweet Delicacies This Festive Season With Paistika

    Taste Sweet Delicacies This Festive Season With Paistika

    ‘Beyond Scraps’: Express Your Emotions Creatively

    ‘Beyond Scraps’: Express Your Emotions Creatively

    TASE: Rhythmic Story Of A Dream Come True!

    TASE: Rhythmic Story Of A Dream Come True!

    ‘Iinkha By Suzanna’: A Writer Who Creates Handmade ‘Clay Products’

    ‘Iinkha By Suzanna’: A Writer Who Creates Handmade ‘Clay Products’

    Humble Beginnings To An Eco-friendly Future – Story Of ZerowasteShop

    Humble Beginning To An Eco-friendly Future – Story Of Zerowasteshop India

    “Recycling Artist”: Lad Who Transforms ‘Litters’ Into ‘Glitters’

    “Recycling Artist”: A Lad Who Transforms ‘Litters’ Into ‘Glitters’

    ‘SUGAR N SPICE’: Catering To Your Taste Buds

    ‘SUGAR N SPICE’: Catering All Things Nice!

No Result
View All Result
News Aur Chai
No Result
View All Result
Home News Business

All You Need To Know About RACP Bill No.116 Of 2020

Amid the COVID-19 pandemic, the Finance Ministry has come up with a new set of relives for the taxpayer through the RACP Bill 2020.

Feba M. Abraham by Feba M. Abraham
September 29, 2020
Reading Time: 4min read
276 6
0
All You Need To Know About RACP Bill No.116 Of 2020

Amid Pandemic Finance Ministry brings RACP bill 2020 - a relief to taxpayer. (Image Source: NAC Media)

197
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

India’s Finance Minister, Mrs. Nirmala Sitharaman, have established the Taxation and Other Laws – RACP (Relaxation and Amendment of Certain Provisions) Bill, 2020 in the Lok Sabha on September 18, 2020. The RACP Bill will substitute the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020.

The Ordinance was brought into the picture in March 2020 to provide flexibilities to meet various compliances. This is done by extending the time limit and payment of taxes under the Income Tax Act, 1961 (hereby referred to as ‘the Act’) and certain other specified Laws.

The RACP Bill seeks to incorporate the provisions of Notification No. 35/2020, dated June 24, 2020, and Notification No. 56/2020, dated July 29, 2020 (issued by the Central Board of Direct Taxes under the above Ordinance) and also amend certain Sections of the Act.

Why was RACP Bill 2020 introduced?

The main reason was for it to act as a source of relief to the various categories of taxpayers during the coronavirus pandemic. ‘Other specified Laws’ include certain Finance Acts, Central Excise Act 1944, Customs Act 1962, Direct Taxes Vivad se Vishwas Act 2020, and Prohibition of Benami Property Transactions Act 1988.

Highlights of the Bill (Direct Taxes)

  • Regarding the Period

Particulars

Stated dates

Filing of the Income Tax Return for Assesment Year (AY) 2019-2020 September 30, 2020 *
Filing of the Income Tax Return for AY 2020-2021 November 30, 2020 *
Filing of Audit Reports (under any provision) for the AY 2020-2021 October 31, 2020 *

Tax Deducted at Source (TDS)/Tax Collected at Source (TCS) for February and March 2020 and 4th quarter for March 2020 (as the case may be, under all sub-sections)

March 31, 2021

Furnishing of Certificate under Section 192 of the Act for AY 2020-2021

(As per Section 192 of the Act, any employer responsible for paying salary to his employees can deduct TDS on an average rate of tax, based on the current slab rates during the relevant FY, by considering the employees’ estimated income)

March 31, 2021, {from August 15, 2020}

 

 

Sections 54 to 54BG (regarding the Exemptions under Capital Gains)

a)    Time limit for completion or compliance

b)    For making such completion or compliance

December 31, 2020 (from September 29, 2020)

March 31, 2021 (from September 30, 2020)

Chapter VI-A Deductions (under heading B):

a)    Time limit for completion or compliance

b)    For making such completion or compliance

December 31, 2020 (from July 30, 2020)

March 31, 2021 (from July 31, 2020)

Vivid se Vishwas Act, 2020:

a)    Time limit

b)    For completion or compliance

December 31, 2020

March 31, 2021 (from December 31, 2020)

*Note: – As per clause 3(1)(c) of the Bill, all due dates have been extended to March 31, 2021. However, the third proviso to clause 3(1)(c) forms an exception to the above rule. The third proviso deals with the filing of Returns for AY 2019-2020 and AY 2020-2021. For the AY 2019-2020, it states that the general due date of March 31, 2021, is substituted by September 30, 2020.

Similarly, for the AY 2020-2021, March 31, 2021, is substituted by November 30, 2020, and for the Audit Reports, the due dates will continue to be October 31, 2020. Hence, for all the items specified in the third proviso, the date specified in the condition will be the due date for compliance. For those items that do not fall in the third proviso (like the date for completion of assessments, issue of notice, filing of appeals, etc.), the last date will be March 31, 2021.

  • There is no extension for the payment of taxes;
  • The interest rate for late payment of taxes will be ¾ per cent per month or part thereof (only if the tax payable is more than Rs. 1 lakh);
  • No penalty will be levied;
  • No prosecution shall be sanctioned for the delay in the payment of taxes.

Note:- The ‘period of delay’ means the period between the due date and the time of payment.

  • New provisions for charitable trusts for re-registration, etc.

Approval under Section 10(23)(c)

The re-registration under Sections 12A, 12AA, and 80G is proposed to come into effect from April 1, 2021. The previously extended date was October 1, 2020.

In addition to the above, there are other amendments proposed in the Income Tax Act, 1961.

Current status of Bill

Although the RACP Bill was passed in the Lok Sabha on September 19, 2020, it is yet to be passed in the Rajya Sabha. Once the Bill is passed in the Rajya Sabha and receives the assent of the President, the proposed amendments will gain effect.

As slowly the Bill goes into the final stage, taxpayers can hope that the amendments will be beneficial for them to stay within the legal boundary and compliances.

Tags: CoronavirusIncome TaxPandemicRACP Bill 2020Tax ReliefTaxpayer
Share79Tweet49
Next Post
75th United Nations General Assembly 2020: World Leaders & War Of Words

75th UN General Assembly 2020: World Leaders & War Of Words

Instagram

  • “To realize one
  • “In order to write about life first you must live it.”– Ernest Hemingway
--
#ErnestHemingway #Hemingway #NACQuote #QuoteOfTheDay #QuotesLife #Quote #LifeQuote #Quotes #Motivation #NewsAurChai #Goal #Aim #WednesdayQuote #Fear #Life #LifeQuotes #MidWeekMotivation #News
  • Supreme Court stays the implementation of three farms laws until further orders & forms a committee to hold talks.
--
#NewsAurChai #NewsInPictures #PhotoJournalism #News #BreakingNow #BreakingNews #TrendingNews #TrendingNow #NewsWithNAC #FarmLaws #SupremeCourt #CJI #FarmerProtest
  • Sensex make a new life-time high of 49,095; Nifty up by 81 points to 14,428.
--
#StockMarket #India #NIFTY #Sensex #BankNifty #NACBusiness #MarketWatch #IndianMarket #EquityMarket #Stocks #News #BreakingNews
  • “The whole secret of a successful life is to find out what is one’s destiny to do, and then do it.” – Henry Ford
--
#HenryFord #Ford #FordQuotes #NACQuote #QuoteOfTheDay #QuotesLife #Quote #LifeQuote #Quotes #Motivation #NewsAurChai #Goal #Aim #MondayQuote #MondayMotivation
  • “If life were predictable it would cease to be life, and be without flavor.” – Eleanor Roosevelt
--
#NACQuote #QuoteOfTheDay #QuotesLife #Quote #LifeQuote #Quotes #Motivation #NewsAurChai #NAC #Goal #Aim #WeekendQuote #SundayQuote #EleanorRoosevelt #Roosevelt
  • Lahore
  • #NACExplainer : "The Pill" for men passes safety tests. Swipe right to find out more
.
.
#safesex #pregnancy #unwantedpregnancy #prochoice #contraceptive #malecontraceptives
  • Congress Interim President Sonia Gandhi to hold a meeting with party general secretaries and in-charges on farmer
Facebook Twitter Youtube RSS Instagram

© 2020 News Aur Chai Media

No Result
View All Result
  • Home
  • News
    • News
    • Business
    • City
    • India
    • Sports
    • Startups
    • Technology
    • World
  • Vichar
    • Vichar
    • Doosra Pehlu
    • Explainer
    • Kalam Se
    • Real Heroes
  • Interviews
    • Chai Pe Charcha
    • LiteNote
    • Startup Connect
  • Entertainment
    • Entertainment
    • Hollywood
    • Bollywood
    • Movies & Music
    • Events
  • Lifestyle
    • Fashion
    • Relationships
    • Indian History
    • Travel
  • Corona
  • More
    • College Events
    • Press Release
  • VoLocals

© 2020 News Aur Chai Media

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.

Add New Playlist