New section 115BAC is inserted in Income Tax Act by the Finance Act 2020 and it is applicable w.e.f 1st April 2020 and will be applicable on Individuals and HUFs for the assessment year 2021-22 and subsequent assessment years.Under this section taxpayers i.e Individuals and HUFs has an option to pay the tax on the basis of concessional slab rates subject to some conditions.
RBI announced 3 months EMI Moratorium on loans. However, deferring the payment of EMI will only lead to an increase in the cost of the loan.
6 days Certification Course on GST Practical Return Filing Process