All India Federation of Tax Practitioners Announces Financial Assistance Scheme For Needy Members amid COVID-19

All India Federation of Tax Practitioners Announces Financial Assistance Scheme For Needy Members amid COVID-19

ALL INDIA FEDERATION OF TAX PRACTITIONERS FINANCIAL SUPPORT TO MEMBERS
(COVID-19) SCHEME, 2021

In view of the current pandemic Covid-19, many of the members of the Federation have been hospitalized for treatment. Many of the Members have also lost their lives. Due to the present Covid-19 pandemic situation, such members and/ or their families are facing financial exigencies. With a view to give financial support to such members and/or their families, the Federation has framed a scheme to provide financial support to the needy members and/or their families.

1) This scheme shall be called AIFTP Financial Support to Members (COVID-19) Scheme, 2021.

2) The scheme shall come into force with immediate effect. The object of the scheme is to provide financial support to the members who are facing financial exigencies because of the hospitalization due to Covid-19 and to the family of the member who lost his/her life due to the Covid-19.

3) A Committee shall be constituted who shall provide financial assistance to the needy members and their families. The composition of the Committee shall be as under-

i. Chairman: Dr. Ashok Saraf, Past President, Guwahati
ii. Member: Shri. Sanjay Kumar, Allahabad
iii. Member: Shri. S. Venkataramani, Bengaluru
iv. Member: Shri. Vivek Agarwal, Kolkata
v. Ex-Officio Member: Shri. M Srinivasa Rao, National President
vi. Ex-Officio Member: Shri. S. S. Satyanarayana, Secretary General
vii. Ex-Officio Member: Shri. Vijay Kewalramani, Treasurer

4) The decision of the Committee in providing financial support shall be final and shall not be questioned by anyone at any level.

5) The quantum of financial support shall be as under-

Sl. No.		Amount
1	Hospitalization of members upto 7 days due to Covid- 19	Rs. 20,000
2	Hospitalization of the member due to Covid- 19 for a period of more than 7 days	Rs. 35,000
3	Death of a member due to Covid- 19	Rs. 50,000

6) The member or their family who needs financial support shall send such a request to the Committee duly recommended by the Chairman and/or Secretary in consultation with National Vice President of the Zone to which the member belongs.

7) The concerned member must be a member of the Federation as on 31.12.2019.

8) The member seeking financial support of the Scheme of 2021 shall not have an average Net Income above Rs. 7,50,000 during the years 2017-18, 2018-19 and 2019-20 from any of the sources.

9) The member concerned and/or family member of the member shall provide necessary Bank details for the transfer of the financial support amount. The name of the member of the Federation and/or family to whom the financial support is given shall be confidential and shall not be disclosed to anyone under any circumstances.

10) A self declaration to that effect shall be given by the member or the family member of the said member to the aforesaid effect. After the Covid period is over, the member and/or the family member shall give necessary documentary proof in support of the aforesaid to the head Office of the Federation. If the declaration given by the member or the family member as the case may be, is found to be incorrect, the membership of the said member shall be terminated immediately and the said member and/or the family of the said member shall be liable to refund the amount of the financial support to the Federation forthwith.

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