24/03/2020
*Update by the Hon'ble FM as a part of the Economic Package:*
_*Income Tax UPDATES-*_
1. Income Tax FY 18-19 Last Date 30 June 2020. Interest @9%p.a.
2. No extension in TDS payments for FY 19-20. Only interest @9%p.a, for payments upto 30 June 20.
3. Aadhar PAN linking extended to 30 June 20.
4. Vivad se Vishwas Scheme extended to 30 June 20, without additional 10%.
5. Due dates for all compliances, and furnishing of returns and reports, including investment in 80C, extended to 30 June 20.
_*GST UPDATES*_
1. Last date for Mar-Apr 20 returns, including Composition will be 30 June 20.
2. Companies < Rs 5 Crore turnover, will not be charged any interest and late fees.
3. Companies > Rs 5 Crore turnover, will be charged interey@9% p.a., that too after 15 days.
4. Opting for Composition, can be done till 30 June 20, depending on states.
_*MCA UPDATES-*_
1. Board Meetings, will be relaxed for 60 days, till the next two quarters.
2. CARO 2020, will be imposed from FY 20-21, instead of FY 19-20.
3. Companies relaxed from Independent Director meetings for FY 19-20. Will do if no meeting also.
_*Other UPDATE-*_
1. Sabka Vishwas Scheme for Service, Custom & Excise, extended to 30 June 20.