Newsflash on Extension of Time limits under Direct Tax and Other Laws

In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across various sectors due to the outbreak of COVID-19, the Government had passed The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 [the Ordinance] on 31 March, 2020 which, inter alia, extended various time limits.

In order to provide further relief to the taxpayers for making various compliances, the Government has issued a Notification on 24 June, 2020 providing certain relaxations in the due date mainly under the Income Tax Act, 1961 (‘The IT Act’) and certain other laws.

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