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Month: March 2020

Drastic fall in interest rates of all Post Office Savings Schemes w.e.f 01-04-2020

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The government today announced a steep cut in the interest rates on small savings schemes for the first quarter (April to June) of FY 2020-21. Interest rates on various small savings schemes have been cut by between 70 basis points and 140 basis points (100 basis points = 1 per cent). Here is a look […]

Government : No extension of the Financial Year 2019-20

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The government on Monday said it has not extended the current financial year 2019-20 and it will end as scheduled on March 31. The finance ministry issued the clarification following a fake new circulating in some media reports that the Financial Year has been extended. “There is no extension of the financial year,” the finance […]

ITR, GST filing, Aadhaar-PAN linking deadlines extended

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Union Finance Minister Nirmala Sitharaman today announced various statutory and regulatory compliance relief measures amid a complete shutdown almost all over the country to control the spread of the highly contagious coronavirus or Covid-19 infection. Here are the key announcements: Financial Services: *Debit card holders who withdraw cash from any bank ATM can do it […]

EPF interest rate reduced to 8.50% from 8.65% for FY 2019-20

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The Employees’ Provident Fund Organisation (EPFO) lowered the interest rate on provident fund deposits to 8.50% for FY20 (2019-20) from 8.65% in FY19 (2018-19). The move will affect the PF deposits of over 6 crore active subscribers. The EPF interest rate announced for the current fiscal is lowest since 2012-13, when it was 8.5 per […]

Link your PAN with Aadhaar by March-end to avoid Rs10,000 fine

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The Income Tax department might impose a penalty of Rs 10,000 on those who don’t link their PAN card with Aadhaar card within the deadline of 31 March 2020. The I-T department had earlier said that un-linked PAN cards will become inoperative if not linked with Aadhaar by March 31. If the PAN card becomes […]

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