ITR-GST return filing date extended, withdraw money from ATMs of any bank free
New Delhi: Finance Minister Nirmala Sitharaman on Tuesday stated that the government is preparing an economic package which will be announced soon in a bid to tackle the economic fallout affecting the Indian economy due to coronavirus pandemic.
She said the last date for filing Income Tax return for the year 2018-19 has been extended from March 31 to June 30, 2020.
“Work is going on and we are very close to coming up with an economic package that will be announced sooner rather than later,” she stated.
And for delayed payments, the interest rate has been reduced from 12 per cent to 9 per cent, she said.
The steps come even as the International Monetary Fund stated that the pandemic will cause a global recession in 2020 and will be as bad as the 2008 financial crisis.
It is free to withdraw money from any bank’s ATM with debit card for the next three months.
Minimum balance requirement fees waived.
New companies have got 6 months more time for declaration.
Companies will be forcibly saved from going into insolvency
The board meeting of the companies can be deferred for 60 days. This relief is for the next two quarters.
No penalty at present for delay in filing GST returns for companies with turnover up to 5 crores.
Interest on TDS reduced from 18% to 9%.
24 hours of custom clearance will be available till 30 June 2020.
GST return filing date for March, April, May has been extended to 30 June.
The vivaad se vishvaas scheme has also been extended till 30 June. After 31 March, there will be no additional charge till 30 June.
The last date for linking Aadhaar PAN has been extended to 30 June 2020.
The last date for filing tax returns for the financial year 2018-19 has been extended to 30 June.
