Lok Sabha on September 19, 2020 passes the Taxation and other Laws (Relaxation of Certain Provisions) Bill, 2020 to replace the Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020, issued on 31.03.2020. The ordinance was promulgated to grant extensions to direct and indirect tax related compliances and to constitute the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES FUND) to relax the burden of pandemic outbreak and subsequent lockdown.
