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Tuesday, 24 March 2020

fINANCE MINISTER NIRMALA SITARAMAN PRESS CONFERENCE 24-3-2020

FINANCE MINISTER NIRMALA SITARAMAN PRESS CONFERENCE 24-3-2020


The finance minister informed the government of the government's preparedness for video conferencing to compensate for the damage caused by the coronavirus.

The Finance Minister informed the press conference by tweeting






The government is planning to bring in an economic package to prevent the damage caused by the spread of coronavirus. The Minister of Finance pointed to the package in a tweet. The finance minister said he would hold a press conference on the rules through video conferencing. Before the coronavirus spread, the country's economy had slumped. After the spread of Covid 19, the difficulties against the economy have increased tremendously. The finance ministry and the RBI are taking several steps to increase liquidity. Due to the increase in transit, lock-down has taken place in almost all the states of the country and curfew has been imposed in some states. This is affecting the industry badly.

Finance Minister Nirmala Sitharaman has extended the deadline to file IT returns to 30 June 2020.  She has also reduced interest rate to 9 per cent vs 18 per cent, on delayed deposit of TDS. The Ministry of Corporate Affairs had yesterday rolled out a web form that was to ascertain the readiness of the companies towards fighting the Covid-19 pandemic. The government also said that it is a simple web form with minimum fields and can be filed from anywhere, without requiring payment or Digital Signature Certificate (DSC). The compliance is issued for all Indian companies, foreign companies, LLPs, and foreign LLPs and any one of the current Authorized Signatories of the Company or LLP can submit the form online with only OTP verification.

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