The Central Board of Direct Taxes, CBDT has decided that the implementation of new procedure related to companies shall be deferred to 1st October, 2020 in view of the economic crisis emerged after the corona virus pandemic. Finance Ministry said that the entities registered under various sections of the Income-tax Act would be required to file intimation within three months from 1st October to 31st December, 2020. The amended procedure for approval, registration, notification of new companies shall also apply from 1st October.<br />''  <br />'' Finance Ministry said that the necessary legislative amendments in this regard shall be proposed in due course. Ministry received various representations wherein concerns were raised over the implementation of the new procedure from 1st June, 2020 and requests were also made to defer the applicability of the new procedure.<br />''  <br />'' Finance Ministry said that the Finance Act, 2020 rationalized the procedure relating to certain entities with effect from 1st June. As per the new procedure, the entities would be required to file intimation within three months from 1st June to 31st August.<br />''  <br />