• CA Shashank Goel

#Economic Stimulus Package #Nirmala Sitharaman Press Conference

#In order to provide more funds at the disposal of the taxpayers, the rates of Tax Deduction at Source (TDS) for non-salaried specified payments made to residents and rates of Tax Collection at Source (TCS) for the specified receipts shall be reduced by 25 per cent of the existing rates.

#Due date of all income-tax return for the financial year 2019-20 will be extended from 31st July, 2020 and 31st October, 2020 to 30th November, 2020

#Period of Vivad se Vishwas Scheme for making payment without additional amount will be extended to 31st December, 2020.

#Date of assessments getting barred as of September 2020 is extended till December 2020. Those getting barred on March 31, 2021 are being extended till September 31, 2021. #Extension of up to 6 months to be provided to contractors by all central agencies. # For standard MSMEs, collateral free automatic loans worth Rs 3 lakh crore will be provided. This is for 4 year tenure and is 100 percent guaranteed. No principal repayment for 12 months. This will last till October 21, 2020.

#All pending refunds of charitable trust, non-profit business, cooperatives and small partnerships, shall be issued immediately.

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