Breaking | Extension of last date to file Income Tax Return for FY 2018-2019 — June 30th, 2020; Key Takeaways from press brief by FM Nirmala Sitharaman

Last date to file Income Tax Return for the Financial Year 2018-2019 has been extended to 30-06-2020.

Aadhaar-PAN linking date has been extended to 30 June 2020 from 31 March 2020.

 Last date for filing March, April and May 2020 GST returns has been extended to 30 June 2020.

Payment under ‘Sabka Vishwas’ scheme extended.

Customs clearance an essential service, till 30 June, 2020 and will be working 24*7.

Mandatory requirement of holding board meetings is relaxed by a period of 60 days.

Government is considering to suspending Sections 7, 9 and 10 of the Insolvency and Bankruptcy Code (IBC), at a later stage, if the current situation continues beyond six months.

There shall not be any minimum balance requirement fee (in bank accounts).

Debit card holders who withdraw cash from any bank’s ATM can do it free of charge for the next 3 months.

Insolvency & Bankruptcy Code default limit has been increased from Rs 1 lakh to Rs 1 crore.


[Source: Media]

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