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of <h1>Taxation Act 2020 Extends Deadlines and Reduces Interest for COVID-19 Compliance Under Income-tax Act 1961</h1> The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020, extends deadlines for compliance with various statutory requirements due to the COVID-19 pandemic. For actions such as filing appeals, completing proceedings, or making investments under the Income-tax Act, 1961, deadlines originally set between March 20, 2020, and December 31, 2020, are extended to March 31, 2021, or later, as specified by the government. The Act also reduces interest rates on delayed tax payments made by June 30, 2020, and waives penalties and prosecutions for such delays. Different dates may apply for different actions.
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