Income Tax Return filing date extended till 30th November
New Delhi – Prime Minister Narendra Modi has announced Rs. 20 lakh crore package for uplifting the economy battered by the ongoing lockdown to combat COVID-19. Finance Minister Nirmala Sitharaman gave information about the package in 4 phases. At a press conference held on 13th May, Sitharaman gave this information about the first phase. At this event, she announced that Rs.3 lakh crore collateral free loans will be provided for Micro, Small and Medium Enterprises, of 4 years . Reserve Bank of India and Central Government have already given Rs. 8 lakh crore out of this Rs. 20 lakh crore package and the remaining Rs.12 lakh crore shall be given now. Sitharaman has also extended the Income Tax Return filing date till 30th November.
Sitharaman has further said:
1. This economic package has been announced as a move aimed to build a “Self -Reliant” India. Funds have been deposited in the bank accounts of farmers and workers. Funds have been deposited under Prime Ministers Kisaan Yojana, Ujjwala Yojana, Swachh Bharat Abhiyaan and Prime Minister Phasal Beema Yojana.
2. From the business point of view, land, workers funds, and simplified laws will be given priority. Local labourers will be given priority and efforts will be made for the promotion and development of indigenous industries.
3. Central Government will bear the 12% cut on wages of employees.