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
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 |
ARE POST HOSPITALIZATION (FOR COVID-19) TREATMENT EXEMPTED FROM INCOME TAX ?
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
can you give me the exemption section of income tax?
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Sir please share Notification no of Covid-19 treatment expense and Exgratia fund in IT exemption.
Whether any circular for COVID relief as circular 12 is only for extension of deadlines.