The Indian Ministry of Finance has issued a Press Release on June 25, 2021, announcing tax exemption for the amount received by a taxpayer for medical treatment from the employer or from any person for treatment of Covid-19 during FY 2019-20 and subsequent years.
In addition, the exemption shall be allowed without any limit for the amount received from the employer and the exemption shall be limited to INR 1 million (USD 13,500) in aggregate for the amount received from any other persons in case of death due to COVID-19.
The Ministry has stated that necessary legislative amendments for the above decisions shall be proposed in due course of time.
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