Tax will not be levied on payment received for the treatment of Kovid 19, the government announced these reliefs

Tax will not be levied on payment received for the treatment of Kovid 19, the government announced these reliefs

New Delhi
On Friday, the government made some relief announcements for the countrymen facing the brunt of Kovid 19. These ranged from exemption from tax on payment for treatment of Kovid-19 to extension of many important last dates. These reliefs were announced by Anurag Thakur, Minister of State for Finance on Friday evening. Anurag Thakur said that in the case of the financial year 2019-20 and subsequent financial years, if any amount has been paid by an employer to the employee or by any person to any other person for the treatment of Kovid 19, then the recipient of the same The person will be exempted from tax on this amount. Similarly, in case of ex-gratia payment made on behalf of the employer to the family of the employee or by any person to the family of another person in case of death due to COVID-19 in the financial year 2019-20 and subsequent financial years, the same will be received. The family will be exempted from tax on this. But the condition is that the limit of ex gratia payment made by a person to the family of another person should be Rs 10 lakh. However, there is no limit on the ex-gratia payment received from the employer.

These deadlines have been extended

  • TDS statement for the last quarter of the financial year 2020-21 can now be filed till July 15 instead of June 30.
  • Tax deduction certificate in Form 16 can now be issued till July 31 instead of July 15. Foreign evidence statement can now be filed till July 31 instead of July 15.
  • Uploading of non-TDS statements like Form 15G/15H will be done till 31 August 2021 instead of 15 July.
  • Objections to the Dispute Resolution Panel and Assessing Officer under section 144C can now be submitted till 31 August 2021.
  • The last date for withdrawal of pending cases from Income Tax Settlement Commission will now be 31 July 2021 instead of 27 June.
  • The time for investment in a residential house has been given an extension of more than 3 months for tax deduction. Investment can be made on or after 1st April till now 30th September.
  • Under the Vivad se Vishwas scheme, the last date for making payment without interest / additional amount has been shifted from 30 June to 31 August 2021. The last date for making payment with interest is 31 October 2021. The last date for passing orders, making assessments and passing penalty orders will now be 30 September 2021 instead of 30 June.
  • Statement of Paid Income or Created Income for 2020-21 can now be submitted by the investment fund to its unit holders in Form No. 64D till July 15, 2021 instead of June 30, 2021.
  • Statement of Paid Income or Created Income for 2020-21 can now be submitted by the investment fund to its unit holders in Form No. 64C till July 31, 2021 instead of July 15.
  • Section 10(23C), 12AB, 35(1)(ii)/(iia)/( in Form No.10A/Form No.10AB for Registration/Provisional Registration/Intimation/Approval/Provisional Approval of Trusts/Institutions/Research Associations etc. iii) And the last date for submitting applications under 80G will now be 31 August 2021 instead of 30 June.
  • In case of remittances made by an authorized dealer for the quarter ended June 30, the quarterly statement in Form No. 15CC may be furnished by July 31, 2021 instead of July 15.
  • The Equalization Levy Statement in Form No 1 for the financial year 2020-21 can now be filed till July 31, 2021 instead of June 30.
  • The annual statement under sub-section (5) of section 9A can now be filed by eligible investment funds in Form No. 3CEK for the financial year 2020-21 till July 31, 2021 instead of June 29.
  • There will now be time till 30 September 2021 for processing the Equalization Levy Returns instead of 30 June.

#Tax #levied #payment #received #treatment #Kovid #government #announced #reliefs

Leave a Comment