What is maximum time limit of an innings in t20 and one day format? If time is wasted by batting team or by any natural way like time waste in large number of unexpected extra boundaries (huge sixes) will bowling side captain still be fined?
The time limit for a limited-overs innings will be specified in the regulations covering that competition.
The T20i regulations are here, and they state that each session should be 1 hour 25 minutes in duration, with a minimum over-rate of 14.11 per hour.
The ODI regulations are here, and they state that each session should be 3 hours 30 minutes in duration, with a minimum over-rate of 14.28 per hour.
Umpires are permitted to extend the allowed time to cover things like delays due to injury, lost balls etc.