In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19), the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31st 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 24th June, 2020, the salient features of which are as under:

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In order to correctly declare your income to the Government by filing your Income Tax Returns (ITR), it is necessary to file the same using the correct Form applicable to you.

The ITR applicable to you would depend upon your residential status, the nature of income earned and threshold limit, and also whether you are a director or shareholder in any Company, etc.

Seven forms; ITR-1 to ITR-7, have been prescribed for different types of taxpayers.

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The Institute of Chartered Accountants of India (ICAI) has now enabled the provision for generating Unique Document Identification Number (UDIN) in bulk for Certificates in UDIN Portal.
 
“Using this facility now the members of ICAI will be able to generate UDIN in bulk (uptill 300 UDINs) for various types of Certificates in one go. It can be done through uploading of excel file.”, ICAI made this announcement on 17th June, 2020.

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