Hi
Please find below comments from Intelenet Global Services on budget reaction:
Quote from Mr. Susir Kumar
MD & CEO – Intelenet Global Services Ltd
“We are happy as the 10 year tax holiday under Sec 10A and 10B which was due to expire this year has been extended till 2010-2011. This will certainly help the IT and ITES companies as our export-oriented revenues have been affected by the global recession. However, a longer-term extension by 2-3 years would have been more beneficial as it enables companies to plan their investments.”
"From a economic perspective, I am glad the government has endeavoured to boost spending. Increased domestic spending will boost the economy and also have an impact on the domestic BPO industry as it is dependent on domestic consumption of goods and services.
I am also happy about the abolition of Fringe Benefit Tax which will help release more funds to corporates who wish to introduce employee benefit schemes.”
Quote from Mr Ramachandra Panickar
CFO – Intelenet Global Services Ltd
"The abolition of Fringe Benefit Tax (FBT) on certain fringe benefits provided to employees is an extremely positive development. Intelenet Global Services is a people oriented company consisting of 27,000 employees - we implement several employee welfare schemes, which are included in the tax net. Abolition of FBT will certainly be a relief for us.
On the downside, we are disappointed that the Minimum Alternate Tax (MAT) has been increased from 10% to 15%. However the extension of the carry forward period from 7 years to 10 years is positive.”
Kindly acknowledge the receipt of the same.
Regards
Gurjot
(09967293537)
Gurjot Dang
Account Executive
Text 100 Public Relations
Global Public Relations
The Holmes Report's Best Midsized Agency to Work For, 2008
113 Mittal Chambers
11th Floor
228, Nariman Point
Mumbai 400 021, India
Tel: +91 (22) 6659 5519 / 20 Extn: 119
Fax: + 91(22) 6659 5524
Cell: +91 9967293537
Email: gurjotd@text100.co.in
URL: http://www.text100.com
NOTICE & DISCLAIMER
This email (including attachments) is confidential. If you have received this email in error please notify the sender immediately and delete this email from your system without copying or disseminating it or placing any reliance upon its contents. We cannot accept liability for any breaches of confidence arising through use of email. Any opinions expressed in this email (including attachments) are those of the author and do not necessarily reflect our opinions. We will not accept responsibility for any commitments made by our employees outside the scope of our business. We do not warrant the accuracy or completeness of such information.
Text Hundred India Private Limited
Registered number 5581966
Registered office: 4th Floor, MCT House; Sarai Julaina Institutional Area; Opp. Holy Family Hospital; Okhla, New Delhi 110 025
No comments:
Post a Comment