Donations to PM-CARES Fund for coronavirus tax-free

The government has introduced an Ordinance to give relief in compliance in filing income tax, GST, customs and central excise returns. This is to help taxpayers tide over the coronavirus crisis.

The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 also amends a provision in the Income Tax Act to allow 100% deduction on donations to the PM-CARES Fund.

“The limit on deduction of 10% of gross income shall also not be applicable for donation made to PM-CARES Fund,” according to an official statement.

Now the last date for filing income tax returns for 2018-19 as well as that for linking PAN with biometric ID Aadhaar has been extended by three months to 30 June.

The date for making various investment and payment for claiming deduction under Chapter-VIA-B of IT Act, which includes Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations), has also been extended to 30 June. This means investment and payment can be made up to 30 June for claiming the deduction under these sections for 2019-20.

The last date of furnishing of the central excise returns due in March, April and May 2020 has been extended to June 30, 2020.

The government has promulgated an ordinance to give effect to the various relief measures announced by Smt @nsitharaman on March 24 relating to income tax return filing, GST compliance, PAN-Aadhaar linkage and other statutory and regulatory issues. – Finance Minister’s Office

The Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund has been set up for providing relief to the persons affected by the outbreak of coronavirus.