1. Rs 50,000 crores liquidity through TDS/TCS rate reduction
• Rates of TDS for non-salaried specified payments made to residents and rates TCS for the specified receipts shall be reduced by 25% of the existing rates.
• Payment for contract, professional fees, interest, rent, dividend, commission, brokerage, etc. shall be eligible for this reduced rate of TDS.
• This reduction shall be applicable for the remaining part of the FY 2020-21 i.e. from tomorrow to 31st March, 2021.
2. All *pending refunds to charitable trusts and non- corporate businesses & professions* including proprietorship, partnership, LLP and Co-operatives shall be issued immediately.
3. *Due date of all income-tax return* for FY 2019-20 will be extended from 31st July, 2020 & 31st October, 2020 to 30th November, 2020 and Tax audit from 30th September, 2020 to 31st October,2020.
4. *Date of assessments* getting barred on 30th September,2020 extended to 31st December,2020 and those getting barred on 31st March,2021 will be extended to 30th September,2021.
5. Period of *Vivad se Vishwas Scheme* for making payment without additional amount will be extended to 31st December,2020.