Nasscom urges Centre to reimburse ‘paid leave’ given to employees

PTI Hyderabad | Updated on April 10, 2020 Published on April 10, 2020

Boss mom: Employees are multi-tasking domestic chores and family time as they work from home   -  SHAJU JOHN

IT and ITeS industry body Nasscom has urged the Centre to reimburse the payroll cost of employees who were on “paid leave” on account of any Covid-19 related lockdown measures till March 31, among other concessions and facilities.

According to a memorandum covering issues related to various ministries also, submitted to Finance Minister Nirmala Sitharaman, Nasscom also urged the government to exempt IT-ITeS establishments from payment of statutory bonus for FY21 and allow cross utilisation of SEZ and STPI locations for business continuation planning (BCP) scenarios. It requested the FM to allow expenses incurred by companies in enabling work from home (WFH) for its employees as an eligible business expense. Currently, such expenses are classified as perquisites as a result of which employees are liable to pay tax.

Nasscom also requested the FM to reduce the corporate I-T rate to 15 per cent from the existing 22 per cent for all companies for FY21.

Published on April 10, 2020

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.