Tuesday, July 27, 2021

Government extends deadline for linking of PAN with Aadhaar till September 30

Government has extended the deadline for linking PAN with Aadhaar till 30th of September. The Finance Ministry has made it mandatory for every person to quote an Aadhaar number in their Income tax return and application for allotment of PAN. Minister of State for Finance, Anurag Thakur also announced extension till 31st August for Vivad se Vishwas Payment without interest. He also announced tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19.

Mr Thakur said, many taxpayers have received financial help from their employers and well-wishers for meeting their expenses incurred for treatment of Covid-19. He said, in order to ensure that no income tax liability arises on this account, it has been decided to provide income-tax exemption to the amount received by a taxpayer for medical treatment from employer or from any person for treatment of Covid-19 during Financial Year 2019-20 and subsequent years. He said, the government has also decided to provide income-tax exemption to ex-gratia payment received by family members of a person from the employer of such a person or from another person on the death of the person on account of Covid-19 during 2019-20 and subsequent years. The exemption will be allowed without any limit for the amount received from the employer and the exemption shall be limited to 10 lakh rupees in aggregate for the amount received from any other persons.

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