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The Ministry of Finance issued a clarification that the Financial Yearhas not been extended. The clarification was issued to clear theconfusion about the extension of the Financial Year caused after a notification was released by the Government of India about the amendments in the Indian Stamp Act.
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FAQ :
No, the Ministry of Finance has clarified that the Financial Year has not been extended.
Confusion arose after a notification about amendments to the Indian Stamp Act was released, which was misinterpreted by some as an extension of the Financial Year.
The official notification concerned amendments to the Indian Stamp Act, specifically changing a date related to its implementation.
Fake news regarding the extension of the Financial Year was circulated on social media.
The notification substituted the date '1st day of April 2020' with '1st day of July 2020' in a previous notification concerning the Indian Stamp Act.
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