IMPACT OF COVID-19 ON EMPLOYMENT: A TAXATION CONUNDRUM
As we all know that this covid-19 has affected not only India but almost every part of the world. Every country imposed lockdown to safeguard the life of their citizen. In India, the lockdown was first imposed on 24th of March, 2020 by our Prime Minister Narendra Modi. At present, India is unlocking the lockdown through phase wise looking into the threat of pandemic Covid-19 virus. As we know, during this lockdown businesses were shut, which results in detrimental impact on business operation of many entities in India and globally. For instance, company like Maruti Suzuki has not been able to sale single car in India in the month of April 2020. To overcome this crisis many companies have implemented stringent ways, which includes job reduction, salary cut and deferment of salary. So in this paper, we shall be discussing all such measures and tax implication thereof in the hands of employees.