CBDT specifies condition for amount obtained by a member of a deceased individual's family from their employer or from another person or persons as compensation for the death caused by COVID-19

Aug 06, 2022 | by TeamLease RegTech Legal Research Team

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Finance & Taxation ComplianceThe Central Board of Direct Taxes (CBDT) on August 05, 2022, hereby specifies the following conditions, namely: - 

(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 the death of the person is related to coronavirus disease (COVID-19). 

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 attached to the document.

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. 

[Notice No.S.O. 3705(E)]


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