End of the Financial year 2019-20, Govt denies any extension

New Delhi: There is no extension of the Financial Year, the government said on Monday, adding that there is a fake new circulating in some section of media that the Financial Year has been extended. 

A notification issued by the Government on Monday with respect to some other amendments done in the Indian Stamp Act is being misquoted, the Finance ministry said. 

The ministry said that a notification has been issued by the Department of Revenue, Ministry of Finance on March 30, 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 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.(UNI)