Atmanirbhar Bharat Package 3.0: Govt announces Income Tax relief for Developers & Home Buyers on sale of residential units

The Indian govt has announced today (November 12, 2020) the Atmanirbhar Bharat Package 3.0 for various important issues - Employment (Atmanirbhar Bharat Rozgar Yojana); Credit line scheme (Aatmanirbhar Bharat Abhiyaan); Atmanirbhar Manufacturing; PM Awaas Yojana (PMAY) –Urban; Income Tax relief for Developers & Home Buyers to boost demand for residential real estate; Support for Agriculture; Rural employment (PM Garib Kalyan Rozgar Yojana), Captial and Industrial stimulus, R&D grant for COVID Vaccine development, among others.

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Income Tax Returns Filing Date for AY 2020-2021 gets a new extension, CBDT extends deadline to December 31, 2020

The Central Board of Direct Taxes (CBDT) has extended the deadline for taxpayers to file their income tax returns (ITR) for FY 2019-2020 (Assessment year 2020-2021) to December 31st, 2020 from the previous deadline of November 30th, 2020

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