Top 7 announcements made by Union Finance Minister Nirmala Sitharaman
New Delhi, Mar 24: Union Finance Minister Nirmala Sitharaman made a host of announcements today amidst the coronavirus outbreak.
She said that a financial package would be announced soon. Here is a list of the top announcements made by the Finance Minister.
Last date for filing income tax returns for FY2018-19 to June 30.
Deadline to link Aadhar with PAN Card extended to June 30.
Debit card holders who withdraw cash from any other bank's ATM can do it free of charge for next three months.
Minimum balance criteria for bank account holders have been waived off for next 3 months.
Last date to file GST returns for March, April, May 2020 extended to June 30.
For companies with turnover of over Rs 5 crore, no late fee and penalty will be charged on late GST return filing. Interest rate was also reduced from 12 per cent to 9 per cent.
Threshold for default by companies under the Insolvency and Bankruptcy Code (IBC), which currently stands at Rs 1 lakh, is being raised to Rs 1 crore.