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Relaxation in Statutory and other Compliance due to Corona Virus

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✅ Income Tax

1. Income Tax return for the Fy 2018-19 has been extended to 30th June 2020.

2. Interest at 9% P.A. instead of 18% for late deposit of TDS however the date of the TDS deposit remains the same.

3. Aadhar PAN linking date extended to 30th June 2020.

4. Vivad se Vishwas scheme also extended to 30th June without 10% additional charge.

✅ GST Returns

1. For March, April and May 2020 extended to 30th June 2020.

2. No interest, late fee, and penalties on MSME. For suppliers having turnover up to 5crore. For other suppliers, it will be only interest @9% only

3. Option for opting Compositions scheme extended to 30 June 2020

✅ Sabka Vishwas Scheme has been extended to 30th June 2020. No Interest would be levied

✅ MCA

1 There shall not be any additional fees for the late filing of forms at ROC between 01/04/2020 to 30/09/2020.

2. Holding Board Meeting relaxing by 60 days till next 2 qtr

3. CARO 2020 applicable from f.y 20-21 and not 19-20

4. If independent directors not able to hold one meeting for FY 19-20., It shall not be considered as a violation

5. Certificate of Commencement can be filed by the companies with an additional period of 6 months.

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