Coronavirus continues to wreak havoc in India. The industry body Nasscom has requested the government to suspend all deadlines related to tax payment and return filing for four weeks after the lockdown ends. Industry organization says that this will provide relief to startup companies and small and medium industries. To prevent the spread of COVID-19 infection, the government has announced a 21-day lockdown from 26 March. Nasscom has issued a statement saying, "COVID-19 has put a lot of pressure on startup companies and there have been apprehensions about continuing their business. They are looking to the government for help and relief.
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Regarding this matter, Nasscom has said that startup companies have suffered a lot of time under these circumstances and their projects have been delayed. This has put financial pressure on it. The industry organization has urged the government to give subsidy on rent for the work space used by the startup.
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Nasscom has also requested to suspend all the deadlines related to payment of tax and filing of tax returns for at least four weeks after the lockdown is removed from all cities. NASSCOM has also said that during the period of lockdown, it also suggested to avoid payment of provident fund and gratuity. The organization has also requested to extend the deadline related to the payment of interest and relax the payment of loan interest.
