Updated: January 19, 2023, 09:56 PM IST
livemint
Recently many multinational companies have… MoreSeveral multinational companies have recently announced massive layoffs, affecting thousands of employees. Some of the top companies like Twitter, Meta, Google and Amazon are compensating their employees while terminating their services to save on rising operating expenses. The idea behind making this payment is to ensure that the employees have enough to survive before they are employed at some other place. However, is severance pay subject to taxation? If the answer is yes, then how is it taxed?