Budget Reaction from Aricent

Dear All,

Appended below please find the Aricent reaction to the Union Budget
2009-10 for your reference.

BUDGET REACTION

"July 6, 2009: Aricent welcomes the Union Budget 2009 as it delivers on
quite a few of the expectations of the IT industry. We are particularly
pleased with the one year extension granted to the tax holiday scheme as
it would greatly benefit the SMEs especially given the tough market
conditions faced due to the downturn. It is heartening that the finance
minister has abolished the Fringe Benefit Tax and double taxation on the
packaged software which will simplify business.

We are also very pleased on the budget's focus on infrastructure, job
creation and most importantly education especially to improve the
quality of the existing IITs and NITs."

"However, the increase in MAT is a bit of a concern as it could impact
current cash flow for companies. Although, as we come out of tax
holiday and the effective tax rate increases, this increase in MAT could
eventually get offset against higher taxes in future years"

Sudip Nandy, CEO, Aricent.

Regards,

Sarmishtha Sinha

Senior Account Executive

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