Nirmala Sitharaman: Zero Charge on Cash Withdrawal from Any Bank ATM till 3 Months; Important Tax Updates Inside

Finance Minister Nirmala Sitharaman has announced 5 financial reliefs to the citizen during this outbreak.

Nirmala Sitharaman: Zero Charge on Cash Withdrawal from Any Bank ATM till 3 Months; Important Tax Updates Inside
Nirmala Sitharaman

 

 

Over 16, 000 have been killed and more than 375,000 people infected due to coronavirus. PM Boris Jhonson has imposed a strict curfew in the country to stop gatherings. People can leave homes only for specified reasons. 

All the countries and their economies have fallen down badly due to the deadly virus. Italy has reported thousands of death tolls in the recent days.

In India, COVID-19 positive cases have reached around 500 along with 10 confirmed death tolls. Meanwhile, Union Finance Minister Nirmala Sitharaman has addressed the media on Tuesday at 2pm.

Sitharaman addressed the media through video conferencing where she told about tax return, ATM withdrawals & TDS. 

People will get a relief after knowing the statements of Finance Minister amid this outbreak. In order to control the situation during this hard time, FM Sitharaman gave a new hope and relief to people.

Here is a list of respective things which she spoke about:

1.    People will be charged by 9% instead of 18% for delayed deposit of TDS as all are under             the lockdown. 

2.    Union Finance Minister told that the companies who have an annual turnover of more than           Rs 5 crores. They will not be charged any penalty for filing late on Goods & Services Tax               (GST).

3.    There is a relief for the taxpayers as they are not able to file a tax return due to COVID-19.            The last deadline to file a tax return for FY2018-19 has been extended by June 30.

4.    She also said that the Vivad se Vishwas scheme has been extended by June 30 without any         additional charges on paying principal amount.

5.    There will be no charge on cash withdrawal from any bank’s ATM till 3 months.

Importantly, Prime Minister Narendra Modi will be addressing the nation at sharp 8pm today. He will address the nation regarding the vital aspects of COVID-19.