Budget tax provisions haunt COVID-19 donations, relief as pandemic surges
Several tax provisions contained in Budget 2020 are impacting donations and relief measures. For instance, welfare trusts and other organisations involved in arranging relief materials are facing difficulty in raising funds from donors as they lack power to issue tax exemption certificates
Ashutosh Kumar | May 6, 2021 | Updated 18:18 IST
COVID-19 in India: The provisions pertain to tax exemptions
Within days of the finance ministry drawing flak for Integrated Goods and Service Tax (IGST) provisions holding up COVID-19 relief materials donated to India by the global community at domestic airports, it has now come to the fore that several tax provisions contained in Budget 2020 are impacting the donations and relief measures amid the second wave.
Budget: Clamour for residency rule tweak grows as tax fear hits NRIs stuck due to lockdown
Chartered accountants and tax lawyers agree that this is a challenging situation for the NRIs who got stuck in India due to the lockdown in the wake of the pandemic
Ashutosh Kumar | January 23, 2021 | Updated 00:09 IST
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Non-Resident Indians (NRIs) who came to visit India before the COVID-19 outbreak and got stuck in the country due to the nationwide lockdown and other pandemic restrictions for the whole of the current financial year are grappling with a strange situation.
They may now have to pay tax in India in the financial year 2020-21 as their period of stay has overshot the limit of 120 days prescribed under section six of the Income Tax Act, 1961.
Given the skewed finances of the central government owing to the COVID-19 pandemic, there is no elbow room at all to provide any relief to the common taxpayer