coronavirus update indiaas on : 16 September 2020 05:50 GMT+5:30
Corona Crisis: Deadline For Tax Returns Now June 30, Says Finance Minister
Deadline for income tax returns for FY 2018-19 extended to June 30: Nirmala Sitharaman in relief measures for coronavirus
New Delhi: Finance Minister Nirmala Sitharaman announced a slew of relaxation measures related to compliance and regulation, on Tuesday said that the deadline for filing income tax returns for the financial year 2018-19 has been extended till 30 June, 2020. The previous deadline for filing the ITR was 31 March.
The Finance Minister also announced that the interest rate on delayed payment of returns has also been cut to 9 per cent from 12 per cent.
The last date for linking PAN with unique biometric ID Aadhaar to June 30 from March 31, was also extended by the government.
Giving details of the extension of dates to help citizen cope with the lockdown, the finance minister said the Vivad se Vishwas tax dispute resolution scheme has been extended by three months to June 30. Those availing the scheme by the extended deadline will not have to pay 10 per cent interest on the principal amount.
For financial year 2019-20 if the independent directors of the company are not able to hold even one meeting then it shall not be considered violation, says Finance Minister#NirmalaSitharaman #FinanceMinister #CoronavirusOutbreak #coronavirusinindia https://t.co/R0UuwSOok6— DailyaddaaNews (@Dailyaddaa) March 24, 2020
Moreover, due dates for issuing various notices under the Income Tax Act have also been extended.
Reiterating herself, Ms Sitharaman also said that the government is "very close" to come up with an economic package and that it will be announced "sooner than later".
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