InvestorQ : Is it true that the government has extended some more tax concessions to people due to the COVID impact?
Dawn Cherian made post

Is it true that the government has extended some more tax concessions to people due to the COVID impact?

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Mitali Bhutta answered.
6 months ago
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You are the right that the government has extended some more relief to the people on the tax deadline front. For example, any expenses incurred on COVID treatment of an employee and borne by employers or any another person will be exempt income subject to the limit of Rs.10 lakh per individual. This would apply to help received from the employer and also from the many well wishers who helped along the way.

In addition, ex-gratia amount received by family members on behalf of persons who died due to Covid would also be exempt from income tax. The time to invest in residential property to save tax has been extended by 3 months while the Vivad se Vishwas payment without interest also stands extended by 2 months till August end. The last date for employers to submit Form 16 to employees also stands extended for the time being.

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