CA Nikhil Jhanwar
Quick Summary
The Honble Finance Minister of India today announced several relief measures on statutory and regulatory compliance matters to mitigate large-scale economic distress caused by COVID 19 across the globe. In majority of the cases, the due dates falling in March 2020 have been extended till 30th June 2
Daily Limit Reached
You have reached your daily limit of 2 Free Articles
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited Articles Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
The relief measures are designed to mitigate large-scale economic distress caused by COVID-19 across the globe by extending due dates for statutory and regulatory compliance matters.
The due dates for filing Income Tax Returns (ITR) for FY 2018-19, Aadhaar-PAN linking, and investments to avail tax benefits for FY 2019-20 have been extended to June 30, 2020. The Vivad se Vishwas scheme also allows payment without an additional 10% amount if made by June 30, 2020.
For taxpayers with an annual turnover less than Rs. 5 Crore, GSTR-3B filing for February, March, and April 2020 has extended due dates to the last week of June 2020, with waived interest and late fees. For larger turnovers, GSTR-3B can be filed by June 30, 2020, with reduced interest rates if filed beyond 15 days from the original due date.
Filing of documents with the MCA-21 Registry has been extended for delays between April 1 and September 30, 2020, with a waiver of additional fees. Holding quarterly board meetings can be extended by 60 days, and the applicability of the Companies (Auditor's Report) Order, 2020 has been shifted to FY 2020-2021.
Yes, for three months, debit cardholders can withdraw cash for free from any ATM, minimum balance fees are waived, and bank charges for digital trade transactions are reduced.
CAclubindia
