Taxability of bonus after covid death
This query is : Resolved
Quick Summary
17 November 2021
Dear experts,
My father retired in February 2021 but unfortunately he passed away due to covid in April 2021. He is due to receive bonus in December 2021. My query is whether this bonus from employer is tax exempt as ex gratia recieved from employer on covid death? if it is tax exempt upto what extent?
My father retired in February 2021 but unfortunately he passed away due to covid in April 2021. He is due to receive bonus in December 2021. My query is whether this bonus from employer is tax exempt as ex gratia recieved from employer on covid death? if it is tax exempt upto what extent?
CA R SEETHARAMAN
(Expert)
17 November 2021
Basic tax exemption available upto 3 lacs.
17 November 2021
Government benefit of tax exemption for ex gratia payment after covid death upto 10 lakhs will not be applicable?
CA R SEETHARAMAN
(Expert)
17 November 2021
Bonus payment will not fall under the above exemption.
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