Union Finance Minister Nirmala Sitharaman on Tuesday said work is going on and the Government is very close to coming up with an economic relief package that will be announced soon amid the Coronavirus pandemic.
“We have come up with a comprehensive plan about statutory and regulatory compliance matters,” said Sitharaman during a media presser on Tuesday.
“The lockdown has been done with an intention of flattening that curve of coronavirus’ spread. Therefore, I must appreciate you all for joining us today. We are close to coming up with an economic package, which will be announced soon,” she added.
The Finance Minister further announced that the last date for income tax returns for the financial year 2018-19 has been extended from March 31 to June 30. She said she will be making announcements on income tax, customs, the Insolvency and Bankruptcy Code (IBC)-related matters, bank-related compliances, fisheries, among other things. She added that for the delayed payments, interest rate has been reduced from 12 percent to 9 percent.
Aadhaar-PAN linking date has been extended to June 30, 2020. Earlier the deadline for Aadhaar-PAN linking was March 31, 2020.
Sitharaman also said the interest rate on delayed deposit of TDS has been reduced. No extra 10 percent interest will be charged between now and 30 June, the minister said.
“Interests for delayed deposit of TDS reduced to 9% from 18%,” said Sitharaman.
The last date for filing March, April and May 2020 GST returns has been extended to June 30, 2020. She added that different staggering dates will be applicable, but all will be the end of June. The interest rate for filing a delayed return has also been brought down.
The finance minister further announced that no interest, penalty and late fee will be charged for companies with a turnover of less than Rs 5 crore. she announced that the interest rate for such companies has been reduced to 9 percent.
The Government also announced that the payment date under the ‘Sabka Vishwas’ scheme, which was for settling disputes in the indirect tax regime, has been extended till June 30, 2020.
In a major relief to imports/exporters, Finance Minister Nirmala Sitharaman said customs clearance is now an essential service till June 30, 2020 and will be working 24/7.
Mandatory requirement of holding board meetings has been relaxed by a period of 60 days and this relaxation is for the next two quarters.
For the newly incorporated companies, extra six months have been granted to file declaration.
Sitharaman announced that the threshold of default has been extended to Rs 1 core from existing Rs 1 lakh, in order to prevent insolvency proceedings against MSMEs.
The Government is considering suspending Section 7, 9 and 10 of the Insolvency and Bankruptcy Code (IBC), at a later stage, if the current situation continues beyond six months.
Meanwhile, for fisheries, the finance minister said a one-month delay will be condoned in the arrival of the consignment of fisheries. Import permits for fisheries expiring in April have been extended by three months.
In a major relief for the general public, Finance Minister Nirmala Sitharaman said debit cardholders who withdraw from ATMs can do it free of charge, from any bank’s ATM, for the next three months. There shall not be any minimum balance requirement fee in bank accounts, the minister noted.
Meanwhile, bank charges have been reduced for digital trade and transactions.
As the briefing came to a close, Nirmala Sitharaman reiterated that an economic relief package will be announced “sooner”, rather than later.
“We are closely monitoring the situation. SEBI has come up with guidelines and stated its position on the recent volatility. We are monitoring the stock market,” she added.
The relief measures come as a majority of India has gone under complete lockdown to arrest the spread of the Coronavirus pandemic.
Shraddha Murder Case: Police found spinal cord, 10 body parts recovered so far from the forest
The bones of Shraddha found by the Delhi Police in the forest of Mehrauli belong to the back part of the body. About 10 such body parts have been found so far, including the reed bone. Apart from this, some bones have also been recovered from the drain.
Delhi Police has received 10 parts of the body including the lower part of the spinal cord. The police have also found blood stains in the kitchen of the flat, whose samples have been sent for examination to find out whose the blood stains are.
Aftab had cleaned the fridge with chemicals so that when caught, he could spoil the forensic investigation. Delhi Police will soon call Shraddha’s father for a DNA sample. After which blood sample and bone sample will be sent to FLS, after which FSL will do a DNA test.
After the investigation so far, the police suspect that Shraddha’s body was dismembered in the bathroom after the murder. Along with this, the accused used to leave the water running from the shower so that the dead body could be easily cut and blood flowed. The FSL team along with Aftab was present during the investigation at his flat.
Fog will be seen in Delhi’s sky from tomorrow, cold will increase with drop in temperature!
After the passing of half of November, there is a rapid change in the weather. The country’s capital Delhi is feeling cold in the morning and evening, while the temperature is rising in the afternoon. However, a change in the weather can be seen in the coming days. According to IMD, the cold may increase in Delhi from tomorrow i.e. 17 November with a drop in temperature.
Delhi’s temperature condition
According to weather experts, in the next few days, icy winds will blow in the northwest direction, due to which Delhi’s temperature will drop and the cold will increase. Talking about the temperature, on November 17, the minimum temperature can be 12 degrees Celsius and the maximum temperature can be 27 degree Celsius. Two days ago i.e. on November 15, the minimum temperature was recorded at 15 degrees and the maximum temperature was 30 degrees. At the same time, there is a possibility of further decline in it for the next two days. On November 18, the minimum temperature can reach 11 °C and the maximum temperature can reach 26 °C.
In Delhi, 37 lakh people apply for power subsidy
After the 15-day-expansion by the Delhi government to select for the power subsidy scheme finished Tuesday, just three lakh individuals applied during the augmentation time frame. From September 14 till Tuesday night, 37,13,179 individuals applied to keep on benefiting from the subsidy scheme.
In spite of the fact that authorities are guaranteeing that a decent level of individuals has applied, the information shows a distinction of around 10 lakh customers when contrasted with a year ago. As per the information, around 46.8 lakh individuals profited from the advantage under the plan in 2021-22.
“This was the normal number of individuals who get the advantage, and the people who go under the 200 unit class probably applied. Likewise, the number varies as a few purchasers get the financed bill during winters and the number descends in summer as individuals use ACs, coolers, and fans,” said a senior authority from the power office.
He added that individuals who got sponsored bills under 400 units during winter should not have applied. “In any case, they can, in any case, apply before their next charging cycle and profit from the subsidy scheme,” said the official.
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