Ignoring of demand of STPI extension disappoints IT industry
IT industry is disappointed that its demand for extension of the Software Technology Parks of India (STPI) scheme beyond 2009 was ignored in the Union Budget.
By PTI |
BANGALORE: IT industry is disappointed that its demand for extension of the Software Technology Parks of India (STPI) scheme beyond 2009 was ignored in the Union Budget on Friday.
Industry officials, however, kept a brave face, saying that they expect the issue to be dealt by the Government post-budget or in the next budget.
The STPI scheme that provides a 10-year Income Tax exemption in software technology parks expires, in March 2009.
"The STPI extension request was not addressed. We have one more budget to go. It could very well happen in post-budget announcements or in the next budget", Chief Financial Officer of Bangalore-based Wipro, Suresh Senapaty, told PTI.
"We would have liked much more moderation of FBT (Fringe Benefit Tax) on ESOP (Employee Stock Options). But that did not happen", he said.
According to Kapil Dev Singh, Country Manager of IT advisory firm IDC India, the contribution of the IT industry to the buoyant Indian economy did not 'deserve' excise enhancement on packaged software and imposition of service tax on custom software.
Industry officials, however, kept a brave face, saying that they expect the issue to be dealt by the Government post-budget or in the next budget.
The STPI scheme that provides a 10-year Income Tax exemption in software technology parks expires, in March 2009.
"The STPI extension request was not addressed. We have one more budget to go. It could very well happen in post-budget announcements or in the next budget", Chief Financial Officer of Bangalore-based Wipro, Suresh Senapaty, told PTI.
"We would have liked much more moderation of FBT (Fringe Benefit Tax) on ESOP (Employee Stock Options). But that did not happen", he said.
According to Kapil Dev Singh, Country Manager of IT advisory firm IDC India, the contribution of the IT industry to the buoyant Indian economy did not 'deserve' excise enhancement on packaged software and imposition of service tax on custom software.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
