Indian FM announces relief measures to fight COVID-19

24 Mar '20

2 min read

Pic: PIB

Indian finance minister Nirmala Sitharaman today announced several statutory and regulatory compliance relief measures to tackle the COVID-19 pandemic. The last date for filing belated income tax return for 2018-19 has been extended from March 31 to June 30. The deadline for filing goods and services tax returns for March, April and May is also June 30 now.

The last date for linking permanent account number (PAN) card with Aadhaar has been extended from March 31 to June 30.

Bank account holders do not need to worry about maintaining a minimum monthly balance as non-maintenance charges will be waived off for three months. ATM withdrawals from any bank ATMs will also be free for debit card holders for the next three months, according to an official release.

The finance ministry is already working an economic package to mitigate the impact of coronavirus on the Indian economy. Prime Minister Narendra Modi has also announced setting up of a task force, to be headed by Sitharaman, to look at measures to limit economic hardship caused by the pandemic.

Company board meeting rules have been relaxed for 60 days and customs clearance now is an essential service till June 30, working 24 hours a day without holidays.

Fibre2Fashion News Desk (DS)

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