Chancellor Rishi Sunak unveils new wage subsidy to save jobs

Jannie Delucca

Mike Cherry, chair of the Federation of Small Enterprises, referred to as it a “swift and considerable intervention” but warned corporations “are dealing with a unbelievably tricky winter”.

“Today’s help package deal is the flipside of the coin to Tuesday’s Covid-19 business restrictions,” he reported.

Dame Carolyn Fairbairn, head of the Confederation of British Market, reported the intervention would help save “hundreds of 1000’s of practical work opportunities this winter season.”

“It is right to concentrate on support on work opportunities with a future, but can only be section-time even though demand stays flat.”

Nonetheless, economists warned the help will only cushion the blow the economic system faces from a 2nd wave.

Ruth Gregory, economist at Cash Economics, reported: “These actions won’t remove the hit completely. That is why we assume GDP will stagnate in the past three months of the 12 months.”

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Due date for ‘filing belated, revised’ ITRs for AY20 extended to Nov 30

Jannie Delucca

The deadline for submitting “belated, revised’ Cash flow Tax returns has been extended from September 30 to November 30, stated the authorities on Wednesday.

The day is remaining extended for the “real issues” taxpayers facial area in the Covid-19 pandemic, stated the Central Board of Direct Taxes on Twitter.

The very last day for submitting tax returns for AY 2019-20 is remaining extended for the fourth time for the pandemic. The day was first revised till June 30, then July 31, and then till September 30.

The Cash flow Tax division on Wednesday stated it has issued refunds well worth above Rs 1.eighteen lakh crore to above 33 lakh taxpayers in 6 months till September 29, stated news agency PTI.

This consist of private earnings tax (PIT) refunds amounting to Rs 32,230 crore issued to 31.75 lakh taxpayers, and corporate tax refunds amounting to Rs 86,094 crore to above 1.seventy

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