CBDT issues conditions, forms for income tax exemption on covid 19 relief money

CBDT issues conditions, forms for income tax exemption on covid 19 relief money

The government, through a press release dated June 25, 2021, disclosed the amount of money a person receives as ex-gratia for expenses incurred for treatment of Covid-19 or when they die (by family members) due to COVID-19. employer or any relative/benefactor will be exempted from income tax. Income tax exemption was announced in the 2022 budget. The income tax exemption is effective from the financial year 2019-20. As the income tax relief is given retrospectively, this was not a problem if the recipient of the “help” money did not report…

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