Govt announces tax exemption for expenditure incurred on Covid treatment &ex-gratia amount recd on death due to Covid. Granting further relief in difficult Covid times, dates of several compliances extended vide Notification Nos 74/2021 & 75/2021 &Circular No 12/2021 dt25.06.2021
- Tax Concessions for Payment towards COVID Treatment/Death.
- Easing of IT Compliance Burden during COVID
- Additional Relief Measures for Income Tax Payers
Many taxpayers & their families have received financial help from employers & well-wishers for COVID-19 treatment or ex-gratia help following COVID-related deaths. To ensure that no income tax liability arises on this account, the following exemptions have been granted
Source- Twitter
Tax Concept is a dedicated team of financial writers, legal analysts, and tax professionals committed to breaking down complex Indian corporate updates. From real-time GST amendments and crucial Income Tax judgements to EPFO schemes and corporate law updates, TaxConcept serves as a reliable, authoritative guide for chartered accountants, businesses, and everyday taxpayers seeking absolute compliance clarity.