IT Minister to extend tax benefits for IT firms
By IANS
Tuesday,02 June 2009, 08:19 hrs Comment(8)PrintForward
New Delhi: The IT industry has reasons to rejoice as Communication and IT Minister A. Raja Monday promised the extension of tax benefits under the Software Technology Park of India (STPI) scheme, which is due to expire by March 2010.
The STPI scheme, which offers benefits like custom duty exemption and excise duty exemption, is popular among IT companies.
"I will fight for the scheme in parliament so that it will be extended for a couple of years more," Raja told reporters here after taking charge of office.
He added that the semi conductor policy announced by the previous government would continue and was already attracting new proposals.
Raja said the government would take steps to promote more investments in the IT sector.
Also, hardware manufacturing will be given a push and manufacturing hubs will be promoted, the minister added.
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Reader's comments(8)
1: For small IT compoanies who can't locate to SEZ areas because of the min aras of 10,000 sq ft required at SEZ parks will be benifited. These units are the ones who can afford only STPI areas where such min area requirement is not there. The builder giving up SEZ areas are because of also the land aquisition problems and the current financial downturn which has hurt the Infra sector badly. We at Telesoft Neutek Pvt Ltd (a software platform company making world class socila networking platforms on mobile phones) welcome the Ministrial Move heartily. Good going.
Posted by: Anindya Chakravorty - 12:53 PM Jun 02, ' 09
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