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The government has announced tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19. The exemption shall be limited to how many rupees in aggregate for the amount received from any other persons?

The government has announced tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19. The exemption shall be limited to how many rupees in aggregate for the amount received from any other persons? Correct Answer 10 lakh

The correct answer is 10 lakh.

  • The government has announced tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19.
  • 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 person.
  • The exemption shall be limited to Rs. 10 lakh in aggregate for the amount received from any other persons.

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3. Reducing tax liability and increasing the ability to make contributions towards retirement plans are critical for success.
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