Sunday, September 19, 2021
HomeGeneralAnurag Thakur announces tax concessions for payment towards COVID-19 treatment, ex-gratia

Anurag Thakur announces tax concessions for payment towards COVID-19 treatment, ex-gratia

New Delhi [India], June 25 (ANI): Minister of State for Finance Anurag Thakur on Friday announced tax concessions to strengthen the fight against COVID-19 and said the amount paid for medical treatment to an employee by the employer or to a person by any person on account of coronavirus for 2019-20 and subsequent year won’t be taxed in hands of an employee or the beneficiary.

Minister of State for Finance Anurag Thakur toay announced tax concessions to strengthen the fight against COVID-19.

The minister announced measures related to tax concessions for payment towards COVID treatment or death.

Thakur told ANI that ex-gratia payment by the employer to an employee’s family or by any person to any other person’s family on the death of employee or any other person on account of COVID-19 for 2019-20 or subsequent year will be tax exempted.

Ex-gratia from any other person has been restricted to Rs 10 lakh.

“Amount paid for medical treatment to an employee by employer or to a person by any person on account of COVID for 2019-20 and subsequent year won’t be taxed in hands of employee or beneficiary,” he said.

“Ex-gratia payment by an employer to an employee’s family or by any person to any other person’s family on the 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,” he added.


Disclaimer :- This story has not been edited by The Sen Times staff and is auto-generated from news agency feeds.
Source: ANI


RELATED ARTICLES

Most Popular

Ads Blocker Image Powered by Code Help Pro
Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

Refresh