Economic package to be announced sooner than later: FM Sitharaman
FM Sitharaman said that they will announce the economic package soon to help India fight the coronavirus battle. “We are readying an economic package to help us through the Corona lockdown (on priority, to be announced soon).”
Deadline to file ITR for FY19 extended till June 30
The last date for the income tax return for the financial year 18-19 is extended to 30th June 2020. For delayed payments interest rate has been reduced from 12% to 9%, says Nirmala Sitharaman
Aadhaar-PAN card linking date postponed to June 30
The last date to link your Aadhaar and PAN card has now been extended to June 30, says Nirmala Sitharaman. Earlier, the last date was March 31.
Last date for Mar, Apr, May GST returns extended till June 30
The last date for March, April, May 2020 GST returns and Composition returns extended to June 30th, 2020, says Nirmala Sitharaman
Customs clearance now an essential service: FM Sitharaman
Nirmala Sitharaman announced relief for imports/exporters and said that customs clearance now an essential service, till June 30th, 2020 and it will be working 24/7.
Interest rate on delayed deposit of TDS reduced to 9%
Nirmala Sitharaman said that the Ministry has also reduced interest rate to 9 per cent against previous 18 per cent, on delayed deposit of TDS.
Relaxation on holding Board meetings for next two quarters
Nirmala Sitharaman also said that the mandatory requirement of holding board meetings is being relaxed by a period of 60 days and this relaxation is for the next two quarters.
IBC default limit increased from Rs 1 lakh to Rs 1 crore: MoS Finance Anurag Thakur
Addressing the media via video conference, Minister of State, Finance Anurag Thakur said that the Insolvency & Bankruptcy Code (IBC) default limit has now been increased from Rs 1 lakh to Rs 1 crore.
Insolvency & Bankruptcy Code default limit has been increased from Rs 1 lakh to Rs 1 crore: MoS Finance Anurag Thakur pic.twitter.com/6P0UBDF3Q7
— ANI (@ANI) March 24, 2020
Debit cardholders can withdraw from other bank’s ATM for free for next 3 months
Nirmala Sitharaman said that debit cardholders who withdraw cash from other bank’s ATM can now do it free of charge for the next 3 months.
No minimun balance fee to be charged: FM
Nirmala Sitharaman said that 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: Union Finance Minister Nirmala Sitharaman pic.twitter.com/5Ok0Y5wz1p
— ANI (@ANI) March 24, 2020
SEBI, RBI and Finance Ministry working together to monitor the stock market: FM
Nirmala Sitharaman said that the regulators, Reserve Bank of India, and Finance Ministry are all working together to monitor the developments & volatility in the stock market.
She also said that SEBI has come up with some set of guidelines and also stated its position.