In the last few days, the Government has announced certain measures such as extending the deadlines for compliance and the relaxation of certain provisions contained in the Income-tax Act, 1961. We are sure many more such measures will be announced over a period of time, however, the impact of COVID-19 is much larger on every aspect of taxation. It impacts our cash flows, challenges our Transfer Pricing models, makes us relook at succession planning and rethink our approach to GST.
We have put together the attached comprehensive document which discusses at length the general impact of COVID-19 on businesses - View Document.
Navigating taxes during COVID-19