Heena Sharma Blog

In a unprecedented move, the central government is likely to extend the March 31 deadline of paying income taxes by a month, in view of Covid-19 pandemic , said two officials privy to the development. If situation worsens, it may be pushed till June end, officials added. The move follows the difficulties being faced by the taxpayers in meeting the compliance requirement under the Income-tax laws. The ordinance with this regard would come soon, said one of the two officials. The Budget session of Parliament was cut short on Monday and both the houses were adjourned sine die. Sources say that if implemented, this will be the first time in the history of tax filing, that the Centre would postpone the date of income tax filing which would lead to change in the structure of financial year. Read More

Coronavirus , officially known as Covid-19 , that started spreading from China's Hubei province, has now affected over 150 countries across the globe. China has the most number of cases recorded and most number of deaths. Italy has seen a shocking and sudden rise in the number of cases and deaths. The country has been in total lockdown as the death toll increased. Iran has reported several deaths and has been trying to contain the impact of Covid-19. India is gradually seeing the impact of the virus. Worried about the influx of people carrying the virus from abroad, India suspended all visas till April 15. Worldwide, a number of sporting events, conferences, meets, summits and gatherings have been cancelled. Threat looms over Tokyo Olympics 2020 as well. A total of 415 individuals have so far been confirmed positive in India, according to the latest update by the Indian Council of Medical Research (ICMR). Read More

Drug firm Glenmark Pharmaceuticals on Monday said it has received tentative approval from the US health regulator for generic Dapagliflozin tablets used for treatment of type-2 diabetes. The product is a generic version of AstraZeneca AB's Farxiga tablets. "Glenmark Pharmaceuticals Inc USA has been granted tentative approval by the United States Food and Drug Administration (USFDA) for Dapagliflozin tablets, 5 mg and 10 mg," Glenmark said in a filing to BSE. Citing IQVIA sales data for the 12 month period ending January 2020, the company said Farxiga tablets, brand and all available therapeutic equivalents in strengths of 5 mg and 10 mg, achieved annual sales of approximately $1.8 billion. Read More

The ongoing class 12 state board examinations in Meghalaya have been postponed for an indefinite period as a precautionary measure in the wake of the coronavirus pandemic , an official said on Monday. The state government has directed the Meghalaya Board of School Education to postpone remaining examinations until further notice, the official said. The decision was taken in view of safety and security of students, the board's controller of examination T R Laloo said. The examinations were scheduled on Monday, Tuesday and Wednesday this week, Laloo said, adding that spot evaluations have also been postponed. This year, the Higher Secondary School Leaving Certificate (HSSLC) examinations started on March 2, the official said. Read More

Micro, Small and Medium Entreprises (MSME) players in the country have called for urgent measures by the government, such as extension of deadline for filing GST, among others, to help the industry survive. K E Raghunanthan, past president of All-India Manufacturers Organisation and an MSME owner for the past 35 years, said that the sector had expected some steps to be announced in the Prime Minister's address yesterday. Pointing out that the corporate sector had received various tax benefits in recent times, he said the Ministry of Corporate Affairs (MCA) had even extended the deadline for them to hold board meetings. "MSME and traders are hand-to-mouth fellows, and there is no revival chance for us," Raghunanthan added. "The last 10 days of the financial year are very crucial for any entrepreneur. Today is the last day for GST filing and we haven't got Form 2A uploaded by our suppliers. We have not been able to raise as many invoices as we should ha...

Services of Ola and Uber will not be available in Delhi till March 31 amid the lockdown announced by the state government to contain the spread of coronavirus infection . The Delhi government on Sunday said the city will be in lockdown from March 23 to 31, under which no public transport, including private buses, taxis and autorickshaws will be allowed. Chief Minister Arvind Kejriwal announced a lockdown — sealing its borders, shutting down markets and directing private firms to give compulsory paid leave to all employees, including contractual — until the end of March. Beyond the 80 districts, states, including Maharashtra, which is leading in the number of coronavirus cases, Rajasthan and Punjab are now under effective statewide lockdowns after they imposed Section 144 that bars gatherings of more than four people. "Uber is complying with all Central and State Government directives related to its services for containing the spread of Coronavirus," an Uber spoke...

Equity and commodity futures market brokers have approached markets regulator Securities and Exchange Board of India (Sebi) over opening of their offices. While exchanges are open on Monday, brokers in the major tier-2 cities and trading hubs like Indore are stuck as police don't allow them to open their own offices due to country-wide lockdown amid coronavirus (Covid-19) scare. State governments like Maharashtra, Gujarat and Rajasthan have already declared exchange industry services under essential category. Hence, opening of offices in these three states should not be a problem. In a letter addressed to Sebi chairman Ajay Tyagi, brokers' association Anmi (Association of National Exchanges Members of India) has urged to explicitly declare brokers under essential services to enable them to work smoothly. Read More