Modi Govt Announses Relaxation On Money Spent On Corona Medication – Now Income Tax Rebate will also be given on the amount received for Corona Treatment
In case of death of the employee due to corona infection, the ex-gratia amount received by the employer from the affected family will also be exempted from tax.
New Delhi. The Central Government has announced a big relief to the taxpayers on Friday. Under this, employees will be given tax exemption on the amount received from the employer or any other source for corona treatment. Also, on the death of the employee due to infection, the ex-gratia amount received by the employer from the affected family will also be exempted from tax.
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It is noteworthy that during the second wave of corona, many such cases were reported in which the bill for the treatment of patients reached lakhs of rupees. Exorbitant amount was being collected for ICU and other medical facilities. In some such cases, money was coming through social media and from other sources to help people. Income tax has been levied on this money till now. On which the Central Government has now announced a relaxation.
Apart from this, if a person dies of corona, then the benefits received after his death such as insurance money, provident fund or any other money are also taxed. This new decision of the government will give relief to the families of the victims in this regard.
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According to the Income Tax Department, the payment deadline under Vivad Se Vishwas in Direct Tax Dispute Resolution Scheme has been extended by two months to August 31. Apart from this, the last limit for linking PAN number with Aadhaar card has been extended by three months to 30 September. The deadline for employers to furnish Tax Deduction Certificate at Source in Form 16 to employees has been extended to July 31.
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