New Delhi (NVI): The government has clarified that the financial year beginning from April 1, 2020 has not been extended to July 1, 2020, as is being claimed by some social media websites.
This is a fake news that is being circulated in some sections of the media.
The Finance Ministry also tweeted in this regard saying, ” A notification issued by Govt of India on 30.03.2020 with respect to some other amendments done in Indian Stamp Act is being misquoted. There is no extension of the financial year.”
A notification issued by Govt of India on 30.03.2020 with respect to some other amendments done in Indian Stamp Act is being misquoted. There is no extension of the financial year.
— Ministry of Finance ?? #StayHome #StaySafe (@FinMinIndia) March 30, 2020
There is no extension of the Financial Year.
The Finance ministry said that a notification has been issued by the Department of Revenue, Ministry of Finance on March 30 which pertains to putting in place an efficient mechanism for collection of Stamp Duty on Security Market Instruments transactions through Stock Exchanges or Clearing Corporation authorized by Stock Exchanges Depositories.
This change was earlier notified to be implemented from April 1, 2020.
However, due to the prevailing situation, it has been decided that the date of implementation will now be postponed to July 1, 2020.
