Business / Last date for Income Tax return for 2018-19 extended till June 30: Sitharaman

New Delhi: In her first press briefing since the coronavirus outbreak, Finance Minister Nirmala Sitharaman extended all key deadlines to 30 June 2020. The deadlines for filing Income Tax returns for FY 18-19, GST returns for the months of March, April and May, and Aadhaar-PAN linking have now been pushed to 30 June.

FM also announced that there will be no minimum balance requirement fee imposed by the banks.

"Debit cardholders who withdraw cash from any bank's ATM can do it free of charge for the next 3 months," said Union Finance Minister.

“Last date for I-T returns for Financial Year 19 extended to 30 June 2020. For delayed payment upto June, Interest rate will be reduced from 12% to 9%.”

“GST return for March, April and May extended to 30 June.”

While giving relief to importers and exporters, FM announced that customs clearance will now be an essential service till 30 June 2020 and will be working 24/7.

She further said, "If the independent directors of a company have not been able to hold even 1 meeting, it shall not be seen as a violation."

"Mandatory requirement of holding board meetings is being relaxed by a period of 60 days, this relaxation is for the next two quarters", she added.

In a tweet, she earlier said she would be speaking “specifically on statutory and regulatory compliance matters” amid the COVID-19 outbreak.

She also mentioned that the government is readying an economic package to help the country through the lockdown over coronavirus.

Later on Tuesday, at 8 pm, PM Modi is scheduled to address the nation once more on the coronavirus crisis.

Earlier in his address on the virus outbreak on 19 March, PM Narendra Modi had called for "resolve and restraint" to fight the disease.

He had also announced setting up of a task force, to be headed by Sitharaman, to look at measures to limit economic hardship caused by the COVID-19 pandemic.