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Finance Minister announces several relief measures relat-
ing to Statutory and Regulatory compliance matters
across Sectors in view of COVID-19 outbreak
The Union Finance & Corporate Affairs Minister Smt. Nirmala
Sitharaman on 24-3-2020 announced several important relief measures taken by
the Government of India in view of COVID-19 outbreak, especially on statutory
and regulatory compliance matters related to several sectors. While addressing
the press conference through video conferencing at New Delhi on 24-3-2020, Smt.
Sitharaman announced much-needed relief measures in areas of Income Tax,
GST, Customs & Central Excise, Corporate Affairs, Insolvency & Bankruptcy
Code (IBC) Fisheries, Banking Sector and Commerce.
The Minister of State for Finance & Corporate Affairs Shri Anurag Singh
Thakur was also present besides Shri A.B. Pandey, Finance Secretary and Shri
Atanu Chakraborty, Secretary, Department of Economic Affairs.
Following are the decisions with respect to statutory and regulatory
compliance matters related to various sectors :-
Income Tax
(1) Extend last date for Income Tax returns for (FY 18-19) from 31st
March, 2020 to 30th June, 2020.
(2) Aadhaar-PAN linking date to be extended from 31st March, 2020 to
30th June, 2020.
(3) Vivad se Vishwas scheme - No additional 10% amount, if payment
made by June 30, 2020.
(4) Due dates for issue of notice, intimation, notification, approval order,
sanction order, filing of appeal, furnishing of return, statements, ap-
plications, reports, any other documents and time-limit for comple-
tion of proceedings by the authority and any compliance by the tax-
payer including investment in saving instruments or investments for
roll over benefit of capital gains under Income Tax Act, Wealth Tax
Act, Prohibition of Benami Property Transaction Act, Black Money
Act, STT law, CTT Law, Equalization Levy law, Vivad Se Vishwas

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