Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: TDS :: VAT Audit :: VAT RATES :: due date for vat payment :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: cpt
Budget Extravaganza »
 Startup eco-system looks forward to the budget for addressing tax dilemma
 High time to prioritise non-tax revenue in the Budget
 Govt may abolish dividend distribution tax in budget
 Budget making in the GST era: paradigm shift
 Budget 2018: Section 80C limit may be increased
 Middle Class Can Hope For A Big Tax Relief In Budget 2018-19, Says Report
 Startup investors seek abolition of angel tax in Budget 2018-19
 Budget 2018 must avoid the temptation to bolster government revenues myopically
 How GST has taken away the wind out of the Union Budget presentation
 Seeks to amend certain customs notifications in pursuance to change made in Budget 2017-18.
 New look finance ministry team to frame contours of Budget 2018

IT cos will continue in Budget
February, 17th 2010

Minister of State for IT and Telecom Sachin Pilot on Tuesday expressed hope that the exemptions and benefits given to the Indian IT firms would be extended in the upcoming Budget to help them cope with the slowdown.

"It is important that we have a view which will foster investment and create job opportunities. The IT sector has been growing...and so we hope the exemptions and benefits that the IT sector has been getting, there would be some more relief given," Pilot told reporters here.

The sector currently employs about 2.5 million people directly and about eight million indirectly.

"It is expected that another one lakh people would be added this year," Pilot said.

The Indian IT sector was hit by the global financial meltdown and the strengthening dollar pulled it down further.

The industry has been demanding further extension of the sunset clause for deduction in respect of export profits under sections 10A and 10B of the Income Tax Act. This was extended in the last Budget to March 2010.

While IT companies pay a minimum alternative tax of 15 per cent, which was raised by 4 per cent in the last Budget, their effective tax rate is still around 20 per cent. When the STPI scheme ends, this will go up further.

The companies have also been demanding clarity in policy matters, especially SEZ and Direct Tax code.

"There are certianly ambiguities in the direct tax code which is not a budget issue but we have raised it and in case of SEZ, clarification and so on," Tata Consultancy Services Executive Director and Chief Financial Officer S Mahalingam said.

The extension of the tax holiday for a longer period was a good idea for the industry as a whole, added Mahalingam.

According to industry body Nasscom, India's software and BPO exports are expected to grow at an annual 13-15 per cent to touch $56-57 billion.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions