Taking in view the genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT has further extended the due date for furnishing of belated and revised ITRs for Assessment Year 2019-20 from 30th September 2020 to 30th November 2020. As per the Twitter handle of CBDT, the Order Under section 119(2a) has been issued.
For those who had failed to file on time, the due date was March 31, 2020, which was later extended to June 30, 2020, and again to July 31 and later to September 30. Now, the CBDT has extended the last date for furnishing of belated and revised ITRs for Assessment Year 2019-20 from 30th September 2020 to 30th November 2020.
The Code on Social Security, 2020 gets assent of the President
President Ram Nath Kovind has given his assent to the three labour codes passed by both houses of Parliament, paving the way for implementing labour reforms in the country.
The Code on Social Security 2020, the Occupational Safety, Health and Working Condition Code 2020, and the Industrial relation Code 2020 have now been notified in the gazette following the presidential assent for public information.
Industries believe that it’s a long-overdue and much-needed reform for improving ease of doing business and attracting investments, while workers unions, opposition political parties and some labour economists believe that labour rights will now be a thing of the past, and the codes are tilted in favour of employers.
President nods to FCRA (Amendment) Act, 2020
The President has given his assent to the Foreign Contribution Regulation (Amendment) Act, 2020. The objective of the Amendment Act is to enhance transparency and accountability in receipt and utilization of foreign contribution. The Act prohibits “public servants” and “corporations owned or controlled by the government” from accepting funds from abroad. Reduces administration expenses of NGO from 50% to 20%, mandates Aadhaar details of the office-bearers of NGOs for registration.
CBDT extends time limit for compulsory selection of returns for complete scrutiny to 31-10-2020
Considering the difficulties faced due to COVID-19 pandemic and PAN migration related issues, the CBDT has extended the date for selection of cases for compulsory scrutiny on the basis of the parameters prescribed in the CBDT Circular No. 225/126/2020/ITA-II, dated 17-9-2020, from 30-09-2020 to 31-10-2020.
It is clarified that even though the new statutory time limit as per the Taxation and other laws (Relaxations and amendment of certain provisions) Act, 2020 for selection of cases for Compulsory Scrutiny on the basis of prescribed parameters was extended to 31st March 2021, still for the purpose of timely allocation of cases to the NeAC, the above time limit will have to be strictly adhered to, otherwise, the allocation of cases to NeAC will get considerably delayed.
President gives assent to the Industrial Relations Code, 2020
Parliament has received the assent of the President on the 28th September, 2020 on the Industrial relation Code, 2020. The objective of the Industrial relation Code, 2020 to consolidate and amend the laws relating to Trade Unions, conditions of employment in industrial establishment or undertaking, investigation and settlement of industrial disputes and for matters connected therewith or incidental thereto.
President gives assent to the Occupational Safety, Health And Working Conditions Code, 2020
Parliament has received the assent of the President on the 28th September, 2020 on the Occupational Safety, Health and Working Conditions Code, 2020. The objective of the Code is to consolidate and amend the laws regulating the occupational safety, health and working conditions of the persons employed in an establishment and for matters connected therewith or incidental thereto.
