Covid19: FY18-19 has been extended to June 30, 2020

The government is working on an economic package & it will be announced soon, The government has extended the IT filing deadline for the FY 2018-19 to June 30.

fm nirmala sitharaman

fm nirmala sitharaman

PROLOGUE

The government is working on an economic package and it will be announced soon, said the finance minister, Nirmala Sitharaman, adding that the government has extended the income tax filing deadline for the financial year 2018-19 to June 30, 2020.

CENTRELOGUE

Here are the main 5 points from FM announcements in a bid to counter critical situations hit by Covid 19.

1. The Financial Year 2018-19 is going to be extended to June 30, 2020.

2. Aadhaar, PAN linking date will also be extended to June 30.

3. The government has extended the income tax filing deadline for the financial year 2018-19 to June 30, 2020. also, all compliances under the Wealth Tax Act, Income Tax Act, Benami Transaction Act, Black Money Act, have been extended up to June 30, 2020.

4. On cash withdrawal from any other bank ATM will not be charged for 3 months. Besides, there will be no minimum balance requirement in the account.

5. Along with others, the last date to file March, April and May, 2020 GST returns and composition returns are also extended to June 30, 2020.

No specific date has been given for the economic relief package, however, expected ASAP as indicated.

EPILOGUE

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