Hyderabad, April 4 -- Telangana Jagruthi president and former state legislative council member Kalvakuntla Kavitha on Friday appealed the Centre to provide total temporary relief, rather than a partial or enhanced exemption of tax on the severance packages being offered by tech companies to their employees while laying them off.
"I urge the Hon'ble Union Finance Minister @nsitharaman to examine this issue with urgency and adopt a compassionate and pragmatic approach by providing total temporary relief, rather than a partial or enhanced exemption," Kavitha said, taking to X.
She said severance packages are currently taxed under the head, "profits in lieu of salary" as per the Income Tax Act, 1961. In effect, this results in employees bei...
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