US-Iran war CJP protest in Delhi US-Saudi nuclear deal Wildfires in Europe El Nino

Coronavirus Outbreak: Nasscom urges Centre to reimburse 'paid leave' given to staff during lockdown

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 31 March, 2021, among other concessions and facilities

|Apr 10, 2020, 19:53:46 IST

Hyderabad: 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 31 March, 2021, among other concessions and facilities.According to a memorandum, covering issues related to various ministries also, submitted to the Finance Minister Nirmala Sitharaman, the apex body of the Indian IT industry also urged the government to exempt IT-ITeS establishments from payment of statutory bonus for FY 20202021 and allow cross utilisation of SEZ and STPI locations for Business continuation Planning (BCP) scenarios.The body 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.[caption id="attachment_5397041" align="alignleft" width="380"]

Representational image. Reuters.[/caption]"Reimbursing the payroll cost of employees that have been placed on "paid leave" on account of any COVID-19 related lockdown measures till 31 March, 2021, the Nassom requested in the memorandum saying, "This will help ease the financial burden and will ensure no job losses.Click here to follow LIVE updates on coronavirus outbreakThe novel coronavirus pandemic has led to the disruption of several global value chains and the Indian IT- ITeS industry is an integral part of many of these. It has necessitated a sharp re-look at the future of the industry in the short to medium term, it said.A former office-bearer of Nasscom said the US government last week announced USD 349 billion under the Paycheck Protection Program (PPP) to be given as "forgivable loan" to small businesses to pay their employees during the COVID-19 crisis and India can also do something in similar lines to small businesses."Our discussions with the industry indicate that the impact is expected to be particularly severe and is expected to be most visible in the current financial year i.e. 2020-21. The industry faces constraints in terms of ensuring business continuity through the course of pandemic, impacting its ability to function effectively," the IT body told Sitharaman.Nasscom also requested the Finance Minister to reduce the corporate Income Tax rate to 15 percent from the existing 22 percent for all companies for FY 2020-21 as the reduction will benefit the entire industry by easing the tax burden and enhance the financial space to meet other expenses, in this difficult year.It also requested to slash the GST rate from 18 percent to 5 percent for sale of goods or provision of services relating to fiber connectivity, broadband, cellular data, cloud services, laptops and computers.To ensure immediate cash flows for the entire industry, specially MSMEs, Nasscom asked the Centre to clear all outstanding dues from the government, central and State PSUs to vendors within 15 days and also defer payment of advance tax instalment for first quarter the current fiscal due on June 15, 2020.

Stroke is rising among young adults. Doctor explains why it's happening and what you must do

Stroke is increasingly affecting adults in their 30s, 40s and 50s. Experts say unhealthy lifestyles, undiagnosed high blood pressure and delayed treatment are driving the rise in younger stroke cases

3 min read

Stroke in young adults, silent symptoms and late diagnosis: India's growing brain health challenge

Neurologists warn that stroke is increasingly affecting people in their 30s and 40s, while many brain disorders progress silently before symptoms appear. They say early diagnosis, timely referrals and healthier lifestyles are key to reducing India's growing neurological disease burden.

5 min read

Brain tumours aren't always fatal, but delayed diagnosis can be: Experts explain the key warning signs

Brain tumours are frequently mistaken for common headaches, stress or age-related cognitive changes. Doctors say recognising warning signs early and adopting a brain-healthy lifestyle can improve outcomes and reduce the risk of long-term neurological complications.

2 min read

Spices, health and the Indian plate: Why chilli can be good for you—but moderation is still key

From boosting metabolism to supporting heart health, chillies offer several surprising health benefits. But experts say the amount you eat matters, and too much spice can do more harm than good.

4 min read

Organ donation: 5 myths you need to stop believing, according to a transplant specialist

Organ donation has the power to transform and save lives, but this can happen only when myths are replaced with facts. Building awareness, having open conversations and understanding the process can help families make informed decisions.