Minister of State for Finance Anurag Thakur announced various tax exemptions for the people affected by Corona. If someone has died due to corona, then the help amount received from the employer or individual will be tax free.
For this amendment will be made in the Income Tax Act.
Minister of State for Finance Anurag Thakur today announced various tax exemptions for the people affected by Corona. If a company gives help to its employee or an individual to another individual for treatment, then it will be completely tax free for the employee and the beneficiary.
If an employee dies due to corona and help is given to his family from the company, then it will also be completely tax free. Both types of benefits will be available in the financial year 2019-20 and subsequent years. An amendment will be made in the Income Tax Act to provide this help to the Corona affected.
Announcing measures related to tax concessions for payment towards COVID treatment/death.Amount paid for medical treatment to an employee by employer or to a person by any person on account of COVID for ’19-20&subsequent yr won’t be taxed in hands of employee/beneficiary: MoS Fin pic.twitter.com/x9sZOhJrUV
– ANI (@ANI) June 25, 2021
Anurag Thakur said that this rule will not apply only to companies. If an individual helps another individual in this difficult time. If Corona provides financial help to the patient’s family on his death, then it will also be tax free. Although its limit has been fixed at 10 lakhs.
Ex-gratia payment by employer to an employee’s family or by any person to any other person’s family on death of employee/any other person on account of COVID for FY 19-20 or subsequent yr will be tax exempted. Ex-gratia from any other person to be restricted to Rs 10 Lakh:MoS Fin
– ANI (@ANI) June 25, 2021
Apart from this, the deadline for linking PAN card with Aadhaar has been extended again. Minister of State for Finance Anurag Thakur said that the deadline for linking PAN and Aadhaar has been extended by three months to 30 September. At present, its deadline was till June 30.
Extension of 3 months granted for PAN-Aadhaar linking – from 30th June-30th Sept. For payment without, interest extension is granted by 2 months from 30th June to 31st Aug. Closing the scheme with interest in the next 2 months by 31st of Oct: MoS Finance Anurag Thakur
– ANI (@ANI) June 25, 2021
Apart from this, the deadline for payment without interest under Vivad se Vishwas Scheme has also been extended by 2 months. Currently, its deadline was June 30, which has been extended to August 31.
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