Quick Summary
The outbreak of the novel coronavirus (COVID-19) has turned the whole world upside down. No sector has been left untouched by the adverse impacts of the pandemic. As a preventive measure, the government all around the world have been asking people to practice social distancing. In the past few days,
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FAQ :
Former ministers are requesting an extension due to the adverse impacts of the COVID-19 pandemic, which is hampering work and compliance for Chartered Accountants and other professionals.
Former Minister Milind Deora made the initial request on behalf of CAs across India, which was then endorsed by MP Dr. Shashi Tharoor.
They are urging the Finance Minister, Nirmala Sitharaman, to be flexible about the financial year's end and statutory filing and payment deadlines, suggesting a delay of at least one month for FY 2019-20.
An extension could provide relief to individuals and companies and help inject liquidity into the economy.
Yes, the article mentions that the USA recently approved a 90-day delay for filings and payments.
No, the article states that there has been no official notification from the government yet.
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