Various relief measures announced by Hon'ble Finance Minister, Nirmala Sitharaman, are in line with the industry expectations. These measures will go a long way to address the issue arisen from the Impact of Covid-19, said Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry, in a press statement. We appreciate the proactive and combative measures undertaken by the Hon'ble Minister for a sustained economic health, like extending the last date of filing the Income tax returns for the Financial Year 2018 - 19 to 30th June 2020, reducing the interest rate for delayed payments to 9% from 12% for delayed payments; extension provided to the Vivaad se Vishwas Scheme till the 30th June 2020 and no interest, penalty and late fee to be charged for companies with a turnover of less than Rs 5 crore, among others, said Dr Aggarwal. Going forward, we suggest the government to provide a financial package which should support the businesses in terms of availability of liquidity, working capital and to meet up the maintenance of employment in their respective businesses, he added.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
