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Nasscom raises new demand

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The evocative body of IT-BPO firms – Nasscom has suggested that the Software Technology Park of India (STPI) initiatives are accompanied at average with SEZ plans to assist smaller firms stay behind vying. Nasscom President said to www.propertykhazana.com that, “In our Budget 2010-11 wishlist has been presented to the Govt., and we have suggested that the STPI initiatives must be accompanied with SEZ plans as this will assist the small and medium conglomerates stay behind vying. Indian IT firms are gazing for an additional tax holiday for STPI plan.” The nightfall section under Section 10A and 10B of the Income Tax Act, which ends giving a tax holiday to the conglomerates running under STPI plan and the benefits are accessible till 2011.
He also said that, “We need the STPI expansion to occur especially for SMEs and Tier II & III cities as its more feasible for them and STPI must represent the SEZs as this will cater a level-playing field for the industrialists. The Govt. has to hike the expense on education and e-governance ventures.” At present, IT companies pay a tax of about 16% and it was increased by 4% in the previous budget which takes the desired tax rate to about 25% and without the STPI tax immunity, the industry need to pay corporate tax of about 35%. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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