Finance Minister announces slew of measures as country wages a war on coronavirus

Union Finance Minister Nirmala Sitharaman on Tuesday said that last date for the income tax return for the financial year 18-19 has been extended to June 30, 2020.

''The last date for the income tax return for the financial year 18-19 is extended to June 30, 2020. For delayed payments interest rate has been reduced from 12% to 9%,'' she said.

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The finance minister also extendedAadhar-PAN linking date.

''Aadhar-PAN linking date and Vivad Se Vishwas Scheme (from April 1 to June 30, no additional 10 per centpayment),'' she said.

''Work is going on and we are very close to coming up with an economic package that will be announced sooner rather than later,'' she further said.

The Finance Ministery also extended the last date for March, April, May 2020 GST returns and Composition returns to June 30th, 2020.

''For newly incorporated companies there is a requirement to file declaration for the commencement of business within 6 months of incorporation. Now we are giving them an additional time of 6 more months,'' Sitharaman added.

She further said that debit cardholders who withdraw cash from any bank's ATM can do it free of charge for the next three months.

There shall not be any minimum balance requirement fee (in bank accounts), she added.