Nirmala Sitharaman confirmed that the deadline for the 2018-19 financial income tax declaration has been moved to June 30 for tax declarations extended to June 30.
The last date was 31 March. Currently, owing to the outbreak of COVID-19, it was extended until June.
She added that the delayed payment interest rate was decreased from 12% to 9%, while the delayed TDS deposit interest was decreased from 18% to nine percent.
INCOME TAX
a) Financial years 18-–Income tax retardation 30/06/2020
B) Payment interest rate-12 percent to 9 percent (F.Y.18-)
C) TDS–no extension, but interest reduced 18 percent to 9 percent–until 30/06/2020
D) Adhar link–Extended date 30/06/202 Capital gain–Extension to 30/06/2020
E) Panel link–Extended date 30/06/202 D
GST
C) Co more than 5cr–Late invoice, interest-only–9% payment
D) Date of composition-30/06/2020.
CUSTOM & EXCISE
A) Sab ka Vishwas–New due date–30/06/2020
B) Customs withdrawal–24x 7 clearance times (No Interest)
MCA
A) F.Y. F.Y. 2019-20 Independent Director No hearings have held No fines or violations.
B) Delaying of the submission of the fees–No early submission of fees shall be paid until 30/06/2020
C) Corporate Orders 2020–Move from 19-20 to F.Y. F.Y. 20-21 D
D) 2019-20 Independent manager–No conference–no penalty or violation.
BANK ORDER
A) No charge for not keeping the minimum bank balance
(B) No charge for cash withdrawal of ATM via bank card for 3 months The minister of finance announces via the video conference.
