New Delhi: The government on Friday announced income tax concessions for payment for COVID-19 treatment or in case of death.
Announcing the measures, Minister of State for Finance Anurag Thakur Said that measures have been taken to strengthen India’s fight against the COVID-19 pandemic.
As part of the measures, the Center has decided to provide tax relief for payments made by an employer to an employee, or by a person to another, for treatment of COVID-19.
Thakur told news agency ANI, “The amount paid by the employer or any person for medical treatment to an employee due to coronavirus for the year 2019-20 and subsequent year will not be taxed in the hands of any employee or beneficiary. ” .
In addition, ex-gratia payment by an employer to the family of an employee or by an individual to the family of any other person on death of a patient due to COVID will also be exempted from tax for the financial year 2019-20 or subsequent year.
The minister said that the amount of ex-gratia payment from any person has also been limited to Rs 10 lakh.
“In view of the impact of the COVID-19 pandemic, taxpayers are facing inconvenience in completing certain tax compliances and filing replies to various notices.
The Central Board of Direct Taxes (CBDT) said in a statement, “The relief is being provided to ease the compliance burden of the taxpayers during this difficult time…”
watch IT Dept announces tax concessions for payment of COVID-19 treatment
Announcing the measures, Minister of State for Finance Anurag Thakur Said that measures have been taken to strengthen India’s fight against the COVID-19 pandemic.
As part of the measures, the Center has decided to provide tax relief for payments made by an employer to an employee, or by a person to another, for treatment of COVID-19.
Thakur told news agency ANI, “The amount paid by the employer or any person for medical treatment to an employee due to coronavirus for the year 2019-20 and subsequent year will not be taxed in the hands of any employee or beneficiary. ” .
In addition, ex-gratia payment by an employer to the family of an employee or by an individual to the family of any other person on death of a patient due to COVID will also be exempted from tax for the financial year 2019-20 or subsequent year.
The minister said that the amount of ex-gratia payment from any person has also been limited to Rs 10 lakh.
“In view of the impact of the COVID-19 pandemic, taxpayers are facing inconvenience in completing certain tax compliances and filing replies to various notices.
The Central Board of Direct Taxes (CBDT) said in a statement, “The relief is being provided to ease the compliance burden of the taxpayers during this difficult time…”
watch IT Dept announces tax concessions for payment of COVID-19 treatment
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