Yet again, Finance Minister pays heed to Zee Business Managing Editor Anil Singhvi's call, extends ITR filing deadline
Yet again, the Central government has put its stamp of approval on Zee Business Managing Editor Anil Singhvi's call! This was a demand to extend the deadline for filing Income Tax Returns (ITR) by 3 months. Today, FM Nirmala Sitharaman has made this critically important announcement today
Yet again, the Central government has put its stamp of approval on Zee Business Managing Editor Anil Singhvi's call! This was a demand to extend the deadline for filing Income Tax Returns (ITR) by 3 months. Today, FM Nirmala Sitharaman has made this critically important announcement today!
Finance Minister Nirmala Sitharaman today announced a much needed relief and extended the last date for filing IT returns for FY18-19 to June 30 2020.
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— Zee Business (@ZeeBusiness) March 24, 2020
Zee Business Managing Editor Anil Singhvi has been urging the government to extend the deadline, calling the situation "extraordinary", which requires "extraordinary" and prompt decision making by government. Anil Singhvi said that it was imperative to extend the financial year till 30th June and allow people to file ITR, GST or any investment related disclosure till this time.
Anil Singhvi also said that the companies should also be allowed to declare results by 30 June.
The government will have to make an out-of-the-box decision, Singhvi had said.
Apart from this, FM also extended the deadline for filing GST returns for March-May to June 30. On late filing of GST returns, no late fee, penalty or interest will be charged for companies with turnover of up to Rs 5 crore. For companies with more than Rs 5 crore turnover, no late fee and penalty will be charged on GST return filed by 15 days. A reduced interest rate of 9 per cent will be charged, she said.
FM Sitharaman said that an economic package to help the country to fight the coronavirus lockdown will be announced very soon. She said an announcement on the package would be made sooner rather than later.
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The measure has been announced by the government to give public relief amid a countrywide lockdown because of the coronavirus disease, which has till now claimed 9 lives and has infected over 500 people across the country. The government has declared a lockdown in 30 states.
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