MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 5th August, 2022

S.O. 3705(E). – In exercise of the powers conferred by clause (XIII) of the first proviso to clause (x) of sub-section (2) of section 56 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the following conditions, namely:-

1. (i) the death of the individual should be within six months from the date of testing positive or from the date of being clinically determined as a COVID-19 case, for which any sum of money has been received by the member of the family;

(ii) the family member of the individual shall keep a record of the following documents, –

• (a) the COVID-19 positive report of the individual, or medical report if clinically determined to be COVID-19 positive through investigations in a hospital or an in­patient facility by a treating physician;
• (b) a medical report or death certificate issued by a medical practitioner or a Government civil registration office, in which it is stated that death of the person is related to corona virus disease (COVID-19).

2. Statement of any sum of money received by a member of the family of a deceased person from the employer of the deceased person or from any other person or persons, on account of death due to COVID-19 for the purposes of clause (XIII) of the first proviso to clause (x) of sub­section (2) of section 56 of the Income-tax Act, 1961 shall be verified and furnished in Form A.

3. The details of the amount received in any financial year shall be furnished in Form A to the Assessing Officer within nine months from the end of such financial year or 31.12.2022 whichever is later.

Form A:

Declaration

I, … … … … … … … … … … … … … (Name in full and in block letters) son/ daughter/ wife of … … … … … … … … …  do hereby declare that:

To the best of my knowledge and belief whatever is stated in the above columns including the documents attached supporting the statement is correct and complete.

I further declare that during the previous year……. mm/dd/yyyy the total amount received by me is solely on account of death of my family member due to COVID-19.

Place:
Date:

Yours faithfully,

Signature … … …
Name … … … …
Designation … … …

4. This notification shall be deemed to have come into force from the 1st day of April, 2020 and shall apply in relation to the assessment year 2020-2021 and subsequent assessment years.

[Notification No. 92/2022/ F. No. 370142/31/2022-TPL (Part-2)]

UMME FARDINA ADIL, Under Secy., Tax Policy and Legislation Division

Note : It is certified that no person is being adversely affected by granting retrospective effect to this notification

Tax Relief in the repercussion of Covid-19

The Finance Act, 2022 introduced amendments to Section 56 (2)(x) to provide tax relief to taxpayers to tide over the Covid-19 health crisis during the financial year 2019-20 and subsequent years. As per the amendment, the amount received from the employer or any well-wisher for COVID-19 treatment is tax-free. Further, money received by the family members from the employer or any other person in case of demise of a breadwinner of the family will be exempt from tax. There is no exemption limit if the money is received from the employer. But there is an exemption limit of Rs 10 lakh for money received from any other person.

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Documents to be submitted by Employees for Tax Relief in the repercussion of Covid-19 under Section 56 (2)(x): IT Notification No. 90/2022

CBDT specifies Documents to be submitted by Employees for Tax Relief in the repercussion of Covid-19 under Section 56 (2)(x) vide Notification No. 90/2022-Income Tax, Dated: 05.08.2022

Ministry of Finance
(Department of Revenue)
(Central Board of Direct Taxes)
NOTIFICATION

New Delhi, the 5th August, 2022

S.O. 3703(E). – In exercise of the powers conferred by sub-clause (c) of clause (ii) of the first proviso to clause (2) of section 17 of the Income-tax Act,1961 (43 of 1961), the Central Government hereby notifies the following conditions, namely:-

1. The employee shall submit the following documents to the employer, –

• (i) the COVID-19 positive report of the employee or family member, or medical report if clinically determined to be COVID-19 positive through investigations, in a hospital or an in-patient facility by a treating physician of a person so admitted;
• (ii) all necessary documents of medical diagnosis or treatment of the employee or his family member for COVID-19 or illness related to COVID-19 suffered within six months from the date of being determined as COVID-19 positive; and
• (iii) a certification in respect of all expenditure incurred on the treatment of COVID-19 or illness related to COVID-19 of the employee or of any member of his family.

2. This notification shall be deemed to have come into force from the 1st day of April, 2020 and shall apply in relation to the assessment year 2020-2021 and subsequent assessment years.

[Notification No. 90/2022/F. No. 370142/31/2022-TPL (Part-2)]
UMME FARDINA ADIL, Under Secy., Tax Policy and Legislation Division

Note: It is certified that no person is being adversely affected by granting retrospective effect to this notification

Tax Relief in the repercussion of Covid-19

The Finance Act, 2022 introduced amendments to Section 56 (2)(x) to provide tax relief to taxpayers to tide over the Covid-19 health crisis during the financial year 2019-20 and subsequent years. As per the amendment, the amount received from the employer or any well-wisher for COVID-19 treatment is tax-free. Further, money received by the family members from the employer or any other person in case of demise of a breadwinner of the family will be exempt from tax. There is no exemption limit if the money is received from the employer. But there is an exemption limit of Rs 10 lakh for money received from any other person.

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Tax Relief To Family Members of Differently Abled: Section 80DD of IT Act

Press Information Bureau

Tax Relief To Family Members of Differently Abled

• Incurs expenditure for the medical treatment (including nursing), training and rehabilitation of a dependant, being a person with disability; or
• Pays any amount to LIC or any other insurer in respect of a scheme for the maintenance of a disabled dependant.

The section provides for a deduction of fifty thousand rupees if the dependant is suffering from disability and one hundred thousand rupees if the dependant is suffering from severe disability.

PIB

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Good news for salaried women! Narendra Modi Government is considering higher income tax exemption limit for women in the budget for 2014-15.

Finance minister Arun Jaitley is restructuring tax slabs and is thus set to approve a proposal to raise the tax exemption limit to Rs 3 lakh from existing Rs 2 lakh.

The Modi government will ease the tax burden on the middle class and impose a higher tax on the super rich in its first Budget to be presented by Union finance minister Arun Jaitley next month.

According to the proposal, under consideration of the new government, there would also be a tax on the super- rich bracket, comprising those earning Rs 10 crore or more of 35 per cent. This category would be above the Rs 1 crore, class which currently pays an effective tax of 33 per cent inclusive of a surcharge that the earlier government had introduced.
India’s tax regime is being overhauled by Finance minster

Women will be offered a higher tax relief — the threshold income below which individuals are not liable to pay taxes—for women could be fixed at between Rs. 3,25,000 to Rs. 3,50,000.
Rs. 1 lakh annual tax deduction allowed under Section 80C of the Income-tax Act has not kept pace with the rising inflation and needs revision.

A separate deduction of at least Rs 1 lakh per year specifically for education is being considered
Exemption on home loans:  To reduce the burden on households for the interest paid on housing loan for a self-occupied house property a deduction of up to Rs 1.5 lakh is allowed. It can be increased to Rs 5 lakh per year.
Moreover, a proposal to reduce the age for tax exemption for senior citizens to 60 years from 65 years is also under consideration.
EXISTING TAX STRUCTURE

Income of less than Rs. 2 lakh a year are exempt from paying taxes.

Earning between Rs. 2 lakh and Rs. 5 lakh annually are taxed at 10%,

Between Rs. 5 lakh and Rs. 10 lakh at 20%

Earning more than Rs. 10 lakh pays a tax of 30%.

Source: Sahara Samay News
[http://www.saharasamay.com/nation-news/676555821/salaried-women-to-get-higher-income-tax-exemption-in-the-budget-.html]

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