FM Nirmala Sitharaman Announcements today on Compliances 24 03 2020 1 INCOME TAX Last date of filing Income Tax Return FY 2018 19 increased to 30 06 2020 Interest Rate delayed payment reduced from 12 to 9 Delayed deposit of TDS interest rate 9 till 30 06 2020 2 Due date extended to 30 06 2020 Aadhar Pan Linking Vivad se Vishwas Scheme Sanction Appeal Certificate Order Application etc including Investment in Saving Scheme Capital Gain Prohibition of Benami Benami Law where due dates between 20th March to 29th June All extended to 30th June 3 GST Last date of March April and May of GST Return filing extended to 30 06 2020 Companies less than 5 Crore No late fees interest penalty Companies more than 5 Crore No late fees penalty Interest leviable at 9 Composition Scheme Option avail upto 30 06 4 Customs and Central Excise Sabka Vishwas extended to 30 06 2020 Customs Clearance will work 24 7 upto 30 06 2020 5 MCA Board meeting holding relaxed for 60 days for next 2 Quarters CARO Applicability postponed to FY 2020 21 No violation even if Independent Director held no meeting Newly incorporated company Commencement of business certificate additional 6 months Resident Director requirement not violation Deposits Repayment Reserve requirement and 15 Debenture repayment investment to be invested till 30 4 2020 extended to 30 6 2020 6 IBC Default threshold increased from Rs 1 lakh to Rs 1 crore Section 7 9 10 may be suspended for 6 months

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FM Nirmala Sitharaman Announcements today on Compliances (24.03.2020): *1. INCOME TAX* - Last date of filing Income Tax Return FY 2018-19 increased to 30.06.2020 - Interest Rate delayed payment reduced from 12% to 9% - Delayed deposit of TDS interest rate 9% till 30.06.2020 *2. Due date extended to 30.06.2020* - Aadhar- Pan Linking - Vivad se Vishwas Scheme - Sanction/Appeal/ Certificate/ Order/ Application etc including Investment in Saving Scheme, Capital Gain, Prohibition of Benami, Benami Law where due dates between 20th March to 29th June : All extended to 30th June *3. GST* - Last date of March, April and May of GST Return filing extended to 30.06.2020 - Companies less than 5 Crore : No late fees, interest, penalty - Companies more than 5 Crore : No late fees, penalty; Interest leviable at 9% - Composition Scheme Option avail upto 30.06 *4. Customs and Central Excise* - Sabka Vishwas extended to 30.06.2020 - Customs Clearance will work 24*7 upto 30.06.2020 *5. MCA* - Board meeting holding relaxed for 60 days for next 2 Quarters - CARO Applicability postponed to FY 2020-21 - No violation even if Independent Director held no meeting - Newly incorporated company - Commencement of business certificate : additional 6 months - Resident Director requirement not violation - Deposits Repayment Reserve requirement and 15% Debenture repayment investment to be invested : till 30.4.2020 extended to 30.6.2020 *6. IBC* - Default threshold increased from Rs. 1 lakh to Rs. 1 crore - Section 7, 9, 10 may be suspended for 6 months

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