{"id":236525,"date":"2020-09-30T18:30:09","date_gmt":"2020-09-30T13:00:09","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=236525"},"modified":"2021-07-30T09:32:30","modified_gmt":"2021-07-30T04:02:30","slug":"taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/","title":{"rendered":"Taxation &#038; Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 | Faceless jurisdiction of income-tax authorities [Key Features]"},"content":{"rendered":"<h4>President gave assent to the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 on 29-09-2020.<\/h4>\n<blockquote>\n<h4 style=\"text-align: center;\"><span style=\"color: #800080;\">The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020<\/span><\/h4>\n<\/blockquote>\n<p style=\"text-align: justify;\">The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (Ord. 2 of 2020) was promulgated on the 31-03-2020 which, <em>inter alia<\/em>, relaxed certain provisions of the specified Acts relating to direct taxes, indirect taxes and prohibition of Benami property transactions. Further, certain notifications were also issued under the said Ordinance.<\/p>\n<p style=\"text-align: justify;\">The said Act will provide for the extension of various time limits for completion or compliance of actions under the specified Acts and reduction in interest, waiver of penalty and prosecution for the delay in payment of certain taxes or levies during the specified period.<\/p>\n<p style=\"text-align: justify;\">Amendments to Income-tax Act, 1961 will also be made:<\/p>\n<ul>\n<li style=\"text-align: justify;\">Providing of tax incentive for Category-III Alternative Investment Funds located in the International Financial Services Centre (IFSC) to encourage relocation of foreign funds to the IFSC.<\/li>\n<li style=\"text-align: justify;\">deferment of a new procedure of registration and approval of certain entities introduced through the Finance Act, 2020.<\/li>\n<li style=\"text-align: justify;\">providing for the deduction for donation made to the Prime Minister&#8217;s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES FUND) and exemption to its income,<\/li>\n<li style=\"text-align: justify;\">Incorporation of Faceless Assessment Scheme, 2019 therein, empowering the Central Government to notify schemes for faceless processes under certain provisions by eliminating physical interface to the extent technologically feasible and to provide deduction or collection at source in respect of certain transactions at a three-fourths rate for the period from 14th May, 2020 to 31st March, 2021.<\/li>\n<li style=\"text-align: justify;\">Amendment to the <em>Direct Tax Vivad se Viswas Act, 2020<\/em> to extend the date for payment without additional amount to 31-12-2020 and to empower the Central Government to notify certain dates relating to filing of declaration and making of the payment.<\/li>\n<li style=\"text-align: justify;\">Finance Act, 2020 is also proposed to be amended to clarify regarding capping of the surcharge at 15% on dividend income of the Foreign Portfolio Investor.<\/li>\n<li style=\"text-align: justify;\">Central Government empowered to remove any difficulty up to a period of 2 years and provide for repeal and savings of the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020.<\/li>\n<\/ul>\n<p><span style=\"color: #0000ff;\"><span style=\"color: #000000;\">Read the detailed Act, here: <\/span><a href=\"http:\/\/egazette.nic.in\/WriteReadData\/2020\/222110.pdf\">Taxation &amp; Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020<\/a><\/span><\/p>\n<hr \/>\n<p><strong>Ministry of Law and Justice<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President gave assent to the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 on 29-09-2020. The Taxation and <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,13],"tags":[36777,43640,41371,43641,38410,13081,11091,43642],"class_list":["post-236525","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-statutes","tag-alternative-investment-funds","tag-direct-tax-vivad-se-vishwas-act","tag-finance-act-2020","tag-foreign-funds","tag-ifsc","tag-income-tax-act","tag-taxation","tag-taxes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Taxation &amp; Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 | Faceless jurisdiction of income-tax authorities [Key Features] | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Taxation &amp; Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 | Faceless jurisdiction of income-tax authorities [Key Features]\" \/>\n<meta property=\"og:description\" content=\"President gave assent to the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 on 29-09-2020. The Taxation and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-30T13:00:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-30T04:02:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/Law-Ministry.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bhumika Indulia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bhumika Indulia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/\",\"name\":\"Taxation & Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 | Faceless jurisdiction of income-tax authorities [Key Features] | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"datePublished\":\"2020-09-30T13:00:09+00:00\",\"dateModified\":\"2021-07-30T04:02:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Taxation &#038; Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 | Faceless jurisdiction of income-tax authorities [Key Features]\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\",\"name\":\"Bhumika Indulia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"caption\":\"Bhumika Indulia\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Taxation & Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 | Faceless jurisdiction of income-tax authorities [Key Features] | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/","og_locale":"en_US","og_type":"article","og_title":"Taxation & Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 | Faceless jurisdiction of income-tax authorities [Key Features]","og_description":"President gave assent to the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 on 29-09-2020. The Taxation and","og_url":"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2020-09-30T13:00:09+00:00","article_modified_time":"2021-07-30T04:02:30+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/Law-Ministry.jpg","type":"image\/jpeg"}],"author":"Bhumika Indulia","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Bhumika Indulia","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/","url":"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/","name":"Taxation & Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 | Faceless jurisdiction of income-tax authorities [Key Features] | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"datePublished":"2020-09-30T13:00:09+00:00","dateModified":"2021-07-30T04:02:30+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/30\/taxation-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020-faceless-jurisdiction-of-income-tax-authorities\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Taxation &#038; Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 | Faceless jurisdiction of income-tax authorities [Key Features]"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a","name":"Bhumika Indulia","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","caption":"Bhumika Indulia"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":227754,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/04\/01\/breaking-president-promulgates-taxation-and-other-laws-relaxation-of-certain-provisions-ordinance-2020\/","url_meta":{"origin":236525,"position":0},"title":"Breaking | President promulgates &#8212; Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020","author":"Bhumika Indulia","date":"April 1, 2020","format":false,"excerpt":"Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 has been promulgated to provide relaxation in the provisions of certain Acts and for matters connected therewith or incidental thereto. In view of the spread of pandemic COVID-l 9 across many countries of the world including India, causing immense loss\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":254395,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/18\/extension-of-timelines-under-the-taxation-and-other-laws-relaxation-and-amendment-of-certain-provisions-act-2020\/","url_meta":{"origin":236525,"position":1},"title":"Extension of timelines under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020","author":"Bhumika Indulia","date":"September 18, 2021","format":false,"excerpt":"On September 17, 2021, the Central Government extends timelines under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020. They are listed below: (A) where the specified Act is the Income-tax Act, 1961 and (a) the completion of any action relates to passing of any order\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":241516,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/12\/31\/extension-of-time-limits-for-income-tax-returns\/","url_meta":{"origin":236525,"position":2},"title":"Extension of time limits for income tax returns","author":"Bhumika Indulia","date":"December 31, 2020","format":false,"excerpt":"In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (\u2018the Ordinance\u2019) on 31st\u00a0March, 2020 which, inter alia, extended various time limits. The Ordinance has\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":237986,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/10\/24\/extension-of-due-date-of-furnishing-of-income-tax-returns-and-audit-reports\/","url_meta":{"origin":236525,"position":3},"title":"Extension of due date of furnishing of Income Tax Returns and Audit Reports","author":"Bhumika Indulia","date":"October 24, 2020","format":false,"excerpt":"In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (\u2018the Ordinance\u2019) on 31-03-2020 which, inter alia, extended various time limits. The Ordinance has since\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/Income-Tax-Department-Logo.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/Income-Tax-Department-Logo.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/Income-Tax-Department-Logo.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/Income-Tax-Department-Logo.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/Income-Tax-Department-Logo.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":245750,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/03\/18\/residential-status-of-certain-individuals-under-income-tax-act-1961-relaxation-provided-against-double-taxation\/","url_meta":{"origin":236525,"position":4},"title":"Residential status of certain individuals under Income-tax Act, 1961, relaxation provided against double taxation","author":"Prachi Bhardwaj","date":"March 18, 2021","format":false,"excerpt":"The Ministry of Finance has issued a Circular[1] dated 03.03.2021 providing relaxation to certain individuals with respect to their residential status under Income Tax Act, 1961 (the Act) for the previous year, due to Covid-19. The provisions for determination of residency of a person are stated in Section 6 of\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/03\/MicrosoftTeams-image-14.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/03\/MicrosoftTeams-image-14.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/03\/MicrosoftTeams-image-14.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/03\/MicrosoftTeams-image-14.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/03\/MicrosoftTeams-image-14.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":220675,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/10\/clarifications-in-respect-of-option-exercised-under-s-115baa-of-income-tax-act-1961-inserted-through-taxation-laws-amendment-ordinance-2019\/","url_meta":{"origin":236525,"position":5},"title":"Clarifications in respect of option exercised under S. 115BAA of Income &#8211; Tax Act, 1961 inserted through Taxation Laws (Amendment) Ordinance, 2019","author":"Bhumika Indulia","date":"October 10, 2019","format":false,"excerpt":"The Taxation Laws (Amendment) Ordinance, 2019 (the Ordinance) has been promulgated by the President of India on September 20, 2019. The Ordinance, inter alia, inserted a new Section 115 BAA in the Income-tax Act, 1961 (the Act) with effect from April 1, 2020. 2. Section 115BA so inserted, inter alia,\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/236525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=236525"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/236525\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=236525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=236525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=236525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}