Last date for income tax returns for financial year 2018-19 will now be extended to June 30, 2020, says FM Nirmala Sitharaman

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New Delhi: Last date for income tax returns for financial year 2018-19 will now be extended to June 30, 2020. For delayed payments, interest rate has been reduced to 9%, announced Finance Minister Nirmala Sitharaman.

Filing of March, April, and May GST returns extended to June 30.For companies with less than Rs. 5 crore turnover, no interest, late fee or penalty will be charged. For the bigger companies, interest would be 9%: FM.

Aadhaar-PAN linking date extended to June 30, 2020. Vivad se Vishwas scheme has also been extended to June 30, 2020. And from now on to June 30, there is no 10% additional charge. No extension, but on the delayed deposit of TDS only reduced interest of 9% will be charged till June 30, 2020 announced Finance Minister Nirmala Sitharaman.

“In respect of MCA 21 registry, moratorium issued from April 1 to September 30, 2020”: Nirmala Sitharaman, Finance Minister . Mandatory requirement of holding board meetings is being relaxed by a period of 60 days, this relaxation is for the next two quarters.If director of any company will not be present for 182 days in the country, it will not be treated as an offence- FM.

8-point economic relief announced by FM

Income Tax compliance
GST compliance
Customs compliance
MCA compliance
IBC compliance
Fisheries compliance
Bank-related compliance
Commerce-related compliance

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