Home / BUSINESS / No Extension of the Financial Year
No Extension of the Financial Year

No Extension of the Financial Year

There is a fake new circulating in some section of media that the Financial Year has been extended. A notification issued by the Government of India on 30th March 2020 with respect to some other amendments done in the Indian Stamp Act is being misquoted. 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 30th March, 2020 which relates to certain amendments to the Indian Stamp Act. It 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 1st April, 2020. However, due to the prevailing situation, it has been decided that the date of implementation will now be postponed to 1st July 2020.

Comments

About Team Postman

Check Also

Income Tax Department carries out searches in Delhi, NCR and Haryana

Income Tax Department carries out searches in Delhi, NCR and Haryana

The Income Tax Department has carried out a search and seizure action on 14.10.2020 in …

Leave a Reply

Your email address will not be published. Required fields are marked *

Postman,Postman News,Postmannews,Piyush Goyal education,Suresh Prabhu education