Latest Income Tax Benefits, Relief Measures Taxpayers Must Know








A number of Income Tax-related benefits and relief measures have been announced by the Central government in view of the ongoing Covid-19 pandemic. Taxpayeres must know these announcements made by the Ministry of Finance. Here is a full list of Income Tax-related benefits announced by the central government.
In a measure aimed to grant relief, Central Govt announces income-tax exemption to the amount received by a taxpayer for medical treatment for Covid-19, from employer or from any other person & on Ex-gratia amounts recd from employer or from other persons, on death due to Covid,” Income Tax India tweeted.
Income Tax exemption is provided to ex-gratia payment received by family members of a person from the employer of such person person or from any other person on the death of the person on the account of Covid-19 during FY 2019-20 and subsequent years, according to details provided by Income Tax India.
Time to invest in residential house for tax deduction further extended for more than three months. Investment required to be made on or after April 1 can be made up to September 30, the Ministry of Finance stated.
Vivad se Whishwas payment without interest extended by two months from June 30 to August 31, according to the Ministry of Finance.
PAN-Aadhaar linking extended for three months from June 30 to September 30, the Ministry of Finance said.
Time for making assessment and pass penalty orders extended by three months from June 30 to September 30, according to the Ministry of Finance.
Time limit for filing TDS statements has been extended from June 30 to July 15.
Issuing tax deduction certificate has been extended from July 15 to July 31.
Submission of registration of trusts and institutions, and submitting form for equalisation levy have been extended from June 30 to August 31, and June 30 to July 31 respectively.
Filing foreign remittance statement has been extended from July 15 to July 31.
Uploading of form of no TDS claims cases has been extended from July 15 to August 31.
Submitting objection to dispute resolution panel – From June 1 on wards to August 31.
Submitting option to withdraw cases from settlement commission from June 27 to July 31, the Ministry of Finance said.



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