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The central government allowed 100 per cent tax deduction for donations made to newly instituted Covid-19 relief fund, PM CARES Fund, through an ordinance issued on Tuesday. Earlier, the government had announced 50 per cent deduction.
This brings its tax treatment on a par with the Prime Minister National Relief Fund.
The ordinance, called Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020, also gave effect to a slew of tax compliance related relief measures announced by FM Nirmala Sitharaman on March 24 in response to the pandemic.
The relief includes extension of GST returns filing, direct tax dispute
