The software industry wants units in software technology parks or STPIs to be treated at par with special economic zones or SEZs, which are duty-free economic enclaves where units can claim tax breaks for longer than 10 years, besides other perks.
"One of our demands is that STPI units get the same benefits as SEZ units keeping in mind the small and medium enterprises," said Som Mittal, president of National Association of Software and Services Cos (NASSCOM), a software lobby.
"Large companies are already in the 21-22 percent tax bracket so they will not be impacted by the extension of the STPI scheme. There will be no loss to the exchequer too as these big companies are paying these taxes," Mittal said.
The government had introduced the Software Technology Parks of India (STPI) scheme in 1991 to encourage software exports, which helped make
In its budget last July, the government had extended tax benefits for units in STPI by a year to March 2011. Units set up in these parks are eligible for a 10-year tax holiday, besides other perks.
Mid-cap companies such as MindTree and HCL Technologies Ltd are likely to benefit from the extension, said Harit Shah, technology analyst with Karvy Stock Broking.
"We expect a further extension in light of the fact that the industry has just recovered from a severe global slowdown, with mid-sized IT companies, in particular, bearing the brunt of slowing order flows," Shah said.
Friday, February 19, 2010
IT industry seeks tax sop extension in budget
Industry Research Reports
LIC Term Insurance or Pvt Life Insurance Term Plan ? Which is the best term insurance in India ? Which Insurance company has the best cla...
આજકાલ કોઈપણ સમસ્યા હોય લોકો એન્ટિબાયોટિક્સ અંગ્રેજી દવાઓ લેવાનું વધુ પસંદ કરતાં હોય છે કારણ કે આજની પેઢીને આપણા જુનવાણી નુસખા વિશે જાણ હોત...
http://www.livemint.com/2007/12/13162756/SBI-UTI-MFs-to-manage-post-of.html New Delhi: Government has appointed PSU mutual funds UTI MF a...
સુરતી લોચો બનાવવાની રીત Surati Locho - સુરતી લોચો લોચો એ ગુજરાતની સૌથી સ્વાદિષ્ટ ચટપટી ખાવાની ચીજો પૈકીની એક ચીજ છે. લોચો બનાવવાની ...
i-Develop Multibagger Stock Performance last year Enter Date Exit Date Bse Code Scri...
NTPC and RIL are fighting a case in the Bombay High Court over gas pricing for the former's Kawas and Gandar power plants....
Global private equity giant The Blackstone Group has announced that it has bought a majority stake in CMS Computers Ltd. Black...
નવાઝ શરીફ સાથે મુલાકાત બપોરે પાકિસ્તાનના વડાપ્રધાન નવાઝ શરીફ અને નરેન્દ્ર મોદી વચ્ચે વાતચીત થઈ ગઈ હતી. બંને નેતાએ લગભગ 26 સેકન્ડ સુધી ...