New Delhi, March 24
Union Finance Minister Nirmala Sitharaman is now addressing a press conference to speak on statutory and regulatory compliance issues amid a complete shutdown almost all over the country to control the spread of the highly contagious coronavirus or Covid-19 infection.
The finance ministry is already working an economic package to mitigate the impact of coronavirus on the Indian economy. Prime Minister Narendra Modi has 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.
For FY 2018-19, delayed payment for tax payments have been reduced from 12 per cent to 9 per cent. No extension, For delayed TDS depsoit has been redueced from 18 per cen to 9 per cent.
Various income tax officials associations and chartered accountants, since Monday, have been asking the Central Board of Direct Taxes (CBDT) to extend these deadlines because of the lockdowns across various states.