Coronavirus India / Finance Ministry gave big relief to Corona victims, no tax will be imposed on the cost of treatment

New Delhi: Giving big relief to the taxpayers in the Corona era, the Ministry of Finance has made many big announcements on Friday. Most of the concessions have been given regarding the problems being faced in the Corona crisis. Let us know about them in detail.

Help from employer is also tax free

Minister of State for Finance Anurag Thakur said that the central government has decided not to charge any tax on the amount of help received in the treatment of corona. In such a situation, if any employer or well-wishers have paid for the treatment of corona for their employee, then that amount will not be kept in the tax net. Simply put, tax exemption will be given on the entire amount received as help.

New Delhi: Giving big relief to the taxpayers in the Corona era, the Ministry of Finance has made many big announcements on Friday. Most of the concessions have been given regarding the problems being faced in the Corona crisis. Let us know about them in detail.

Help from employer is also tax free

Minister of State for Finance Anurag Thakur said that the central government has decided not to charge any tax on the amount of help received in the treatment of corona. In such a situation, if any employer or well-wishers have paid for the treatment of corona for their employee, then that amount will not be kept in the tax net. Simply put, tax exemption will be given on the entire amount received as help.

Ex gratia tax free up to 10 lakhs

Not only this, the amount of financial assistance given to the family after the death of Kovid-19 will also be outside the purview of tax. At the same time, this limit has been fixed at Rs 10 lakh for payment of ex-gratia. All these relaxations will be valid for the financial year 2019-20 and subsequent years. Anurag Thakur said that in many cases, efforts have been made to give relief by extending the time limit. Due to this, now the period of PAN and Aadhar card linkage has been extended to 30 September.

Discount will also be available here:-

1. From dispute to trust without interest payment till August 31

2. Payment is now possible with interest in the scheme till October 31

3. Period of assessment, penalty order till 30th September

4. 15 Days Relief in Issuance of TDS, Foreign Remittance

5. Relief has also been given in the period of registering the trust

6. Opportunity till August 31 for Equalization Levy Form

7. Time till August 31 for objection to DRP

8. Withdrawal of case from Settlement Commission now till 31st July