I have received financial assistance Rs.1,25,000/- from employer for covid-19 relief. actual expenses incurred in covid-19 treatment Rs.70,000/- (approx). how much amount is exempt ? where to reflect amount exempt in ITR 1.
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This discussion clarifies the tax exemption for financial aid received from an employer for COVID-19 relief. The user received Rs. 1,25,000 but incurred Rs. 70,000 in expenses. The consensus is that the entire amount received is exempt from tax. Guidance is sought on how to report this exempt amount within the ITR 1 form.