Financial year 2019-2020 being extended to 15 months? Here’s the truth

While countries across the world are going through a major economic crisis due to the Coronavirus outbreak, a message is being circulated in India, that claims that the financial year 2019-20 has been extended.

The message claims that the FY 2019-2020 will now be closing on June 30, 2020, making it a period of 15 months instead of 12.

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FACT CHECK 

NewsMobile fact-checked the above post and found that this news is false.

The confusion arose after the government postponed deadlines for filing tax.  Also, because of COVID-19, several companies and stakeholders had asked the government for an extension of the current financial year to 15-months.

However, denying all these claims, the Ministry of Finance, on March 30, 2020, said that the financial year is not being extended.

The ministry said, “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.”

This proves that the viral message is false.

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