COVID

Your Money: Tax exemption on Covid-19 treatment expenses paid by employer CBDT has now decided to provide income tax exemption to the amount received for medical treatment from employer or from the third-party for treatment of Covid-19 during FY 2019-20 and subsequent years. More I-T relief sought for COVID-19 bills Vikas Dhoot JUNE 26, 2021 https://www.thehindu.com/business/more-i-t-relief-sought-for-covid-19-bills/article34993840.ece The fact that tax exemption to employers is considered and announced first, and not a tax deductability to individuals who have spend for COVID on their own, particularly since most individuals were discouraged from hospitalisation so that they could avail of insurance.. shows that the government is thinking of the employers.. rather than the individual.. their belief in the trickle down is complete. Unfortunately most Smal buiness dont pay for empoyee midical expenses, especially when they were lockdown. The same is the trend for the relief packages announced by the finance minister.. Finance Minister Nirmala Sitharaman announces relief measures amid second COVID-19 wave in India JUNE 28, 2021 https://www.moneycontrol.com/news/business/finance-minister-nirmala-sitharaman-announces-relief-measures-amid-second-covid-19-wave-in-india-7096661.html https://www.thehindu.com/business/Economy/nirmala-sitharaman-unveils-new-covid-recovery-package-expands-credit-relief/article35020572.ece Calling the measures an effort to stimulate growth, exports and employment as well as provide relief to COVID-affected sectors, Ms. Sitharaman announced an expansion of the existing Emergency Credit Line Guarantee Scheme (ECLGS) by ₹1.5 lakh crore. She also announced a new ₹7,500 crore scheme to guarantee loans upto ₹1.25 lakh to small borrowers through micro-finance institutions. “Setting aside the guarantee schemes and the announcements that had already been made earlier, the step up in the fiscal outgo within 2021-22 based on the fresh announcements is estimated at around ₹60,000 crore,” said Aditi Nayar, rating agency ICRA’s chiefeconomist. Economist D.K. Srivastava reckoned that the additional burden on the 2021-22 Budget from the ‘three direct stimulus initiatives’ — providing free foodgrains, incremental health projects’ spending, and rural connectivity — would be ₹1,18,390 crore or about 0.5%of estimated GDP for 2021-22. कांग्रेस प्रवक्ता ने सीतारमण को घेरा, कहा अर्थव्यवस्था की समझ नहीं....!! https://www.youtube.com/watch?v=5Zvq3FcqnF0 Jun 29, 2021 कांग्रेस के प्रवक्ता गौरव वल्लभ ने वित्त मंत्री निर्मला सीतारमण पर निशाना साधा है. और गौरव वल्लभ ने कहा है. कि वित्त मंत्री निर्मला सीतारमण को अर्थव्यवस्था की समझ नहीं है. साथ ही बड़ी बात कही है.