Relaxation in income-tax compliances amid covid-19 outbreak
1. Payment of tax deducted at source (TDS) for the month of March 2020 into the Govt. treasury:
· No change in time for payment which is 30 April 2020
· However, reduced interest rate @ 0.75% per month or part thereof would be applicable for delay in payment of tax (instead of 1.5% per month or part thereof) for deposit of taxes between 1 May to 30 June 2020
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No tax on EPF withdrawal amid covid-19
You can withdraw up to three months’ salary (basic pay and dearness allowance) or 75% of the total EPF balance in your account whichever is lower.
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