In a measure aimed to grant relief, Central Govt announces income-tax exemption to the amount received by a taxpayer for medical treatment for Covid-19, from employer or from any other person & on Ex-gratia amounts recd from employer or from other persons, on death due to Covid.

Income Tax Exemption for Expenditure on covid treatment and on ex-gratia received on death due to covid

Income-tax exemption is provided in respect of the amount received by a taxpayer for medical treatment from employer or from any person for treatment of COVID-19 during FY 2019-20 and subsequent years.

Income tax exemption is provided to ex-gratia payment received by family members of a person from the employer of such person or from any other person on the death of the person on account of COVID-19 during FY 2019-20 and subsequent years.*

*Exemption allowed without any limit for the amount received from employer and limited to Rs. 10 lakhs in aggregate for the amount received from any other persons

Income Tax Exemption for Expenditure
Also Read:

Recent Press Release/Notifications/Circular on Due Date Extension &  Exemption for Expenditure on covid treatment and on ex-gratia received on death due to covid

Notification No. 75/2021-Income Tax| Dated: 25th June, 2021 Last date of payment under Vivad se Vishwas extended
Notification No. 74/2021-Income Tax| Dated: 25th June, 2021 CBDT issues Notification extending various Income Tax due date
Press Release Dated: 25th June, 2021 Govt extends 18 Income Tax Due Dates amid Covid 19
Circular No: 12 of 2021 | Dated: 25th June, 2021 Circular extending Income Tax Compliance Due Dates amid Covid-19
Tags:

More Under Income Tax

6 Comments

  1. Krishna Rajiv Katti says:

    I was incurred 10+ lakh for COVID Treatment from my pocket using Credit card, taking loans from relatives n friends as Hospital does not comes under insurance coverage and my company covered 3lakh basic coverage and 5lakh additional covid coverage. The insurance company while reimbursing, deducted COPAY against the reimbursement amount and paid me around 7.3 lak (out of 8 lak), out of 7.3lak 4.3 lak was treated as income and deducted tax 1.5 lak. Is the company action is right! as per Income tax authority confirms upto 10 laks covid related expenses is free from tax. confirm ASAP, so that I can approach my company to rework on my pay

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

October 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031