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Taxation in the Times of Covid-19

The pandemic spreading across the world has resulted in a rising demand for immediate tax relief measures worldwide. The taxpayers in India too expected that some concessions would be granted to them while paying taxes. While analysing the measures to provide tax relief by the Government of India, it may be helpful to view them in juxtaposition with the steps taken by other countries. There are some issues that are peculiar to India, and this calls for the need to adopt a holistic approach and devise a strategic plan in respect of direct tax laws.

The announcement of Covid-19 as a pandemic by the World Health Organization and the consequences that ensued are known to all. However, this has also resulted in a rising demand for immediate tax relief measures worldwide. The taxpayers in India too expected that some concessions would be granted to them while paying taxes in the midst of this disruption in the business cycle. Some aspects of ­direct taxation, which may have been overlooked or may have not been consi­dered by the policymakers, are highlighted. It may be helpful to view the measures taken by the Government of India (GoI) in juxtaposition with the steps taken by other tax jurisdictions.

The Ordinance

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Updated On : 26th May, 2020

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