The amount spent on Corona's treatment is tax-free, and the financial support the family receives after death will not be taxed.

  The amount spent on Corona's treatment is tax-free, and the financial support the family receives after death will not be taxed.

The government has decided to make the company's treatment of a corona-infected employee and the compensation received by the family after his death tax-free. The government's decision comes at a time when most companies in the country are announcing financial support to their employees and their families infected with Corona through ex-gratia payments.

The last date for linking PEN Card i.e. Permanent Account Number (PAN) with Aadhaar Card has also been extended by 3 months. In addition, the last date for filing TDS has been extended from June 30 to July 15, giving another relief to the taxpayers. Union Minister of State for Finance Anurag Thakur gave this information on Friday.

Ex-gratia payment limit up to Rs. 10 lakhs

Anurag Thakur said there would be no tax on the amount taken from the company or any other person for Kovid's treatment. These exemptions are for the financial years 2019-20 and 2021-22. The tax exemption will be available only on ex-gratia payments made by a person to help his friends, relatives or anyone else. Its limit will be up to Rs 10 lakh.

He also said that investments made till April 1 to claim tax deductions can be made till September 30. According to tax experts, the new notification is different from the tax exemption that employees receive on a salary basis. More information will be given separately in a day or two.

The government wants to help employees through tax breaks

Minister of State for Finance Anurag Thakur told the news agency that many people have lost their jobs due to the epidemic. Even so, owning one is still beyond the reach of the average person. So the government wants to give them tax exemption. Under it, if a company makes ex-gratia payments to the family of an employee who dies from corona, the amount will not be taxed for the financial years 2019-20 and 2021-22.

   Read In Gujarati

 

Pen card and support linking date extended by 3 months

The deadline for linking the pen and base has been extended by 3 months to 30 September 2021. So far the deadline was June 30, 2021.