Due to the cases of the Corona Virus increasing rapidly in India. Every department of the Central & State Governments is active. Now, moving forward on this step, the government has completed its preparations for announcing a Bailout Package to help the people. Its official announcement has been made by Finance Minister Nirmala Sitharaman through a press conference today.
The package that Mrs. Nirmala Sitharaman has released follows this.
- If a person is unable to file his income tax return by June 30 and he files a late income tax return, he would have had to pay a penalty of 12% earlier but now it has been reduced to 9%.
- Relief has been given in cases of banking and insolvency.
- The date of filing of income tax which was 31 March has been extended till 30 June.
- No transaction charges made by the bank if you use a debit card in other bank ATM. And the minimum balance has also been stopped.
- Vishwas Scheme deadline is also increased.
- PAN card Aadhar card link date has also been extended till 30 June.
- New companies can now get their registration done for 6 months, companies have been granted 60 days’ time to hold a board meeting.
- The fund for the MSME sector has been increased to one crore.
- The government has also brought relief to the people for GST and custom clearance, for this, the government has introduced a new scheme and the government has also promised that taxpayers will be provided 24-hour help.
Even as we are readying an economic package to help us through the Corona lockdown (on priority, to be announced soon) I will address the media at 2pm today, specifically on statutory and regulatory compliance matters. Via video conference. @FinMinIndia @PIB_India @ANI @PTI_News
— Nirmala Sitharaman (@nsitharaman) March 24, 2020
At the same time, Mrs. Nirmala Sitharaman has appealed to the countrymen to follow the curfew and instructions imposed by the government and leave home only when necessary because at this time the country is going through a very serious situation and at this time the government There is a great need for support.
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