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
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