As the nation is amid country wide lockdown, the Economy is severely affected. To mitigate the Financial and Economic impact of COVID-19, The Honorable Finance Minister of India, Mrs. Nirmala Sitharaman Ji held a Press Conference on 24th March, 2020 and made several announcements relating the various sectors like Income Tax, Goods and Services Tax, Customs, Financial Service and Corporate Affairs where various Due dates of the relevant statutes are extended along with relief in reduced Interest Payment and Nil Late Fees and various relief in the Compliances to the Corporate Sector.