Giving relief to citizens unable to meet deadlines due to coronavirus outbreak, Finance Minister Nirmala Sitharaman on Tuesday said the last date for filing of income tax return for FY2018-19 has been extended to June 30. Also, interest rate on delayed payment has been cut to 9 per cent from 12 per cent, she said.
The government has also extended the last date for linking PAN with unique biometric ID Aadhaar to June 30 from March 31. Giving details of the extension of dates to help citizen cope with the lockdown, she said the Vivad se Vishwas tax dispute resolution scheme has been extended by three months to June 30. Those availing the scheme by the extended deadline will not have to pay 10 per cent interest on the principal amount. Also, due dates for issuing various notices under the Income Tax Act have also been extended.
She also said customs clearance is now an essential service, till June 30th, 2020 it will be working 24/7. The mandatory requirement of holding board meetings is being relaxed by a period of 60 days, this relaxation is for the next two quarters.