July 3, 2022

Finance Minister's big announcements on ITR and GST returns

Due to the increasing cases of Coronavirus, the situation of lockdown is prevailing across the country and due to this the economy of the country is also being affected.  Therefore, the Central Government has taken some steps to provide relief to every section in this difficult time.  Finance Minister Nirmala Sitharaman gave information on this subject through video conferencing on Tuesday. Finance Minister Nirmala Sitharaman announced no fee for the common people to withdraw money from any ATM for the next three months and also made a big announcement on ITR, Aadhaar-PAN linking and GST.  The Finance Minister has also constituted Covid-19 Task Force.

Finance Minister Nirmala Sitharaman’sannouncements on ITR, GST returns

and TDS deposit.


 Lets see, what big announcements the Finance Minister has made. 1. If a person withdraws money from debit card from any bank’s ATM, then no fee will be charged for the next three months i.e. 30 June 2020.  Whereas in normal case there are charges. 2. The last date for filing income tax returns for the financial year 2018-19 has been extended from 31 March to 30 June 2020. 3. The date of linking Aadhaar and PAN has also been extended to 31 March, up to 30 June 2020. 4. The last date of TDS deposit has not been extended but the interest rate has been reduced from 18 per cent to 9 per cent. 5. GST returns of April and May can be filled till June 30. 6. “Vivad Se Vishwas Scheme 2020”  has also extended to June 30. Apart from this, the government thinking regarding the economic package.  It will also be announced in a short time.