Snapshot of Income Tax related announcements

EASING OF INCOME TAX COMPLIANCE

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

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