AMN
Government today announced tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19.
Minister of State for Finance, Anurag Thakur said, many taxpayers have received financial help from their employers and well-wishers for meeting their expenses incurred for treatment of Covid-19.
He said, in order to ensure that no income tax liability arises on this account, it has been decided to provide income-tax exemption to the amount received by a taxpayer for medical treatment from employer or from any person for treatment of Covid-19 during Financial Year 2019-20 and subsequent years.
He said, the government has also decided to provide income-tax exemption to ex-gratia payment received by family members of a person from the employer of such person or from other person on the death of the person on account of Covid-19 during 2019-20 and subsequent years.
The exemption will be allowed without any limit for the amount received from the employer and the exemption shall be limited to Rs. 10 lakh in aggregate for the amount received from any other persons.
Mr Thakur also said that another relief to income-tax payer is that the time to invest in a residential house, for tax deduction, has been extended for more than three months.
He added that for PAN and Aadhaar linking, extension has been granted till 30th September.
The extension has been given till 31st August for Vivad se Vishwas Payment without interest.
Mr Thakur also announced that for filing TDS statements, time limit extended from 30 June to 15 July.
For issuing tax deduction certificates, it has been extended from 15 July to 31st July and for filing foreign remittance certificate, it has been extended from 15 th to 31st July.