The Lok Sabha passed the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020 on 19.09.2020 which seeks to replace the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (introduced in March, 2020 to provide relaxation in timelines amid Covid-19 pandemic and amended on June 24th granting further reliefs). It proposes new sections for incorporating the Faceless Assessment Scheme, extension of certain due dates and other amendments.
For more details, please refer attached document: Highlights of Taxation & Other Laws (Relaxation & Amendment) (1)
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The information contained herein is in summary form based on interpretation of the Taxation and Other Laws (Relaxation and amendment of certain provisions) Bill 2020 passed by the Lok Sabha. While the information is believed to be accurate to the best of our knowledge, we do not make any representations or warranties, express or implied, as to the accuracy or completeness of this information. Reader should conduct and rely upon their own examination and analysis and are advised to seek their own professional advice. This document is not an offer, invitation, advice or solicitation of any kind. We accept no responsibility for any errors it may contain, whether caused by negligence or otherwise or for any loss, howsoever caused or sustained, by the person who relies upon it.