Govt clarifies-No Extension of the Financial Year
Kanwar Inder Singh/ royalpatiala.in/ Chandigarh
There is a fake new circulating in some section of media that theย Financial Year has been extended. A notification issued by the Government of India on 30thย March 2020 with respect to some other amendments done in the Indian Stamp Act is being misquoted.ย 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 30thย 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.
Govt clarifies-No Extension of the Financial Year.This change was earlier notified to be implemented from 1stย April, 2020. However, due to the prevailing situation, it has been decided that the date of implementation will now be postponed to 1stย July 2020.
March,30,2020 (11.15 pm)
