Highlight of Economic Package by Nirmala Sitharaman

Below are  the Highlight of Economic Package by Nirmala Sitharaman

The “Atma Nirbhar Bharat Abhiyan” initiative to spur growth and help in building self-reliant India

Plan based on five important pillars: economy, infrastructure, tech-driven systems, demography and demand

Highlight of Today’s announcement

  • Deadline for filing ITR pushed till 30 Nov

  • TDS and TCS rates Cut by 25%

  • State governments to invoke the Force Majeure clause under RERA. The registration and completion date for all registered projects will be extended up to six months
  • Power Companies got a Liquidity Booster

  • Public sector units to extend deadlines for contractors 

  • Center slashes statutory PF contribution to 10%

  • Rs 50,000 cr equity infusion for growing MSMEs 

  • Due date of all income-tax return for FY 2019-20 will be extended from 31st July, 2020 & 31st October, 2020 to 30th November, 2020 and Tax audit from 30th September, 2020 to 31st October,2020
  • MSME definition changed Distinction between mfg and service MSME removed.

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