Finance Minister on COVID-19: Tax Filings extended, ATM, bank charges waived off, Business Rules Eased and much more

March 24, 2020

On March 24, 2020, the Finance Minister Nirmala Sitaraman announced several key measures in the view of Corona Virus Pandemic. The minister also announced that the Economic Task Force is to announce Economic Relief Package to contain the spread of the disease.

Financial Measures

No charges on withdrawal of cash in bank ATMs. Also, the digital charges on trade transactions have been reduced. This is being done to ease burden on customers in need of urgent cash and also to avoid overcrowding in bank branches.

Tax Measures

The PAN card and Aadhaar card linking were extended to June 30. The Vivaad Se Vishwas Scheme that was launched by the Finance Minister during the Budget Session has been extended to June 30. The Compliances under Wealth Tax act, Income Tax Act, Black Money Act, Benami Transaction Act and Vivaad Se Vishwas have also been extended to June 30.