- Rs 50,000 crores liquidity through TDS / TCS rate reduction
• Rates of TDS for non-salaried specified payments made to residents and rates TCS for the specified receipts shall be reduced by 25% of the existing rates.
• Payment for contract, professional fees, interest, rent, dividend, commission, brokerage, etc. shall be eligible for this reduced rate of TDS.
• This reduction shall be applicable for the remaining part of the FY 2020-21 i.e. from tomorrow to 31st March, 2021.
- All pending refunds to charitable trusts and non- corporate businesses & professions including proprietorship, partnership, LLP and Co-operatives shall be issued immediately.
- Due date of all income-tax return for FY 2019-20 will be extended from 31st July, 2020 & 31st October, 2020 to 30th November, 2020 and Tax audit from 30th September, 2020 to 31st October,2020.
- Date of assessments getting barred on 30th September,2020 extended to 31st December,2020 and those getting barred on 31st March,2021 will be extended to 30th September,2021.
- Period of Vivad se Vishwas Scheme for making payment without additional amount will be extended to 31st December,2020.
Reach Medhasvi Team for Further info mail to firstname.lastname@example.org/ Watsapp 9036709599