A request has been generated to take up certain measures and relaxations within the bracket of the Income Tax Act, 1961. This is done keeping in view the hardships faced by taxpayers amidst the COVID-19 pandemic and will further save the taxpayers from any undue and unintended hardship in the future.
Date: 23rd September, 2020
Smt. Nirmala Sitharaman
Hon’ble Minister of Finance
Government of India
New Delhi – 110001
Subject: Request for taking up certain measures
under Income Tax Act, 1961 in the backdrop of Covid-19outbreak
The Covid-19 outbreak has shaken the world and uprooted normalcy everywhere. A new normal has emerged, which includes some compromises, lot of lifestyle changes and economic difficulties. Till now, the Government has been extremely proactive in taking various measures to help the economy deal with this situation. We sincerely appreciate the efforts by the Government in this regard especially the recently introduced Taxation and other Laws (Relaxation and amendment of certain provisions) Bill 2020.
In this letter, we wish to bring to your kind notice some measures and relaxations that can be taken up under the Income Tax Act, 1961 which will save the taxpayers from undue and unintended hardship. Our recommendations cover various provisions of the law and have been bifurcated into suitable subjects for ease of reference.
To read more in details, find the enclosed fileTags : income tax