Hi
Please find the quote from Mr.Suresh Ramachandra, Finance Leader, Applications and Process Solutions Group, Perot Systems.
The 2009-10 budget has some positives for the IT Industry. Key aspects that the FM has addressed which should help the IT Industry are:
- Abolition of FBT
- Extension of STPI benefit for 1 more year
- Exemption of Excise duty and CVD on Package software
- Alternative tax dispute addressal mechanism within the Income Tax department for foreign companies, especially in the IT sector, for the resolution of transfer pricing issues
- Employees would benefit from increase of IT exemption limits.
- However increasing the MAT from 10% to 15% will impact the IT industry.
A good balancing act by the FM considering the deficit and the Industry expectations
Warm Regards
Jeeva Rekha
Genesis Burson-Marsteller
THE HOLMES REPORT, 2008 CONSULTANCY OF THE YEAR
4th Floor,
Email: jeeva.rekha@bm.com | Mob: +9198840 60032 | Tel: +91 (44) 2825 1981/78 | Fax:+91 (44) 2825 1983
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