KV Network

Tax incentives to COVID victims

Decrease Font Size Increase Font Size Text Size Print This Page

It is commendable that the Union Finance Ministry has agreed to exempt from income tax amounts received by a taxpayer for medical treatment from an employer or from any person for Covid-19 treatment for the financial year 2019-20 and following years.
In addition, during the years 2019-20 and 2020-21, the Ministry has allowed ex gratia payments received by family members of a person from his or her employer or from another person on the death of the person on account of Covid-19 to be exempt from income tax.
The amount received from the employer will be exempt without limit, but the amount received from any other persons will be exempt up to Rs. 10 lakh in total. More incentives from the Central and State governments for pandemic victims and their families are needed.
Amit Singh Kushwaha, Satna (MP)

KV Network

Kashmir Vision cover all daily updates for the newspaper

Leave a Reply

Your email address will not be published. Required fields are marked *