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Finance Ministers of India

Pranab Kumar Mukherjee
(1982-1985, Feb 2009-May 2009, May 2009-Continuing)

Pranab Kumar Mukherjee is a prominent leader of India National Congress. He has...
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IndiaInfoline arrow Budget arrow Industry Expectations

Extend income tax benefits under STPI Scheme for additional period 3-5yrs for SMEs: Integra Software

India Infoline News Service / 9:03 am , Feb 26, 2010

Direct Taxation for IT/ITES industry:


1. Extending Income Tax benefits under Section 10A /10B under STPI Scheme for an additional period 3 - 5 years,  at least for SMEs


2.Possibility of moving the business from STPI to SEZ may be permitted (business of STPI which has not crossed 10 years of IT benefits )  


3.Income Tax and other benefits under STPI Scheme should be in line with companies gets registered under SEZ (Eg. MAT is applicable to STPI registered company and not applicable the companies registered under SEZ)


4.Dividend Distribution tax on Dividend amounts to double taxation and therefore, Dividend Distribution tax could be removed in the current budget.  At least, Dividend Distribution tax should not be charged for the persons whose total income is less than the exemption amount.


5.Tax benefits available to Mutual fund should continue to be retained.


6.Budget of 2010 should give broad guiding path for the implementation of Direct Tax code.


7.Considering the fact that Housing sector plays a vital role in the GDP of the country, interest on housing loan could be enhanced from Rs. 1.50 lacs to 2.50 lacs per annum


8. Peak rate of 30% of salaried employees should be reduced to 25% and thereby purchasing power of the individual will go up and indirectly stimulate the economy of the country.


The author Sriram Subramanya is Founder, Managing Director & CEO of Integra Software Services

Janta's Expectations

Posted By: Mishra A K Bangalore   |  Feb 25, 2011 09:09 AM
I expect FM To reduce Wasteful expenditure. Do not spend Money Which Encourage arrogance among Poor through Pampered Poverty by political parties. Poverty Can Not be a right for any one.Expectation has no limit.Do not allow sympathy toward poverty to be hijacker by politicians. Give maximum Budgetary support to Self reliance among who deserves. Poverty is a state of mind Nurture by politics as end use. Desist from spending on non Performing citizen. Give incentive to duty bound citizen. Follow Bihar Pattern To Curb Corruption.
Posted By: DEB KUMAR SUR KOLKATA   |  Feb 18, 2011 11:52 AM
I expect more populist budget than a realistic one. Still there are expectation from industry for more steps toward tax benefit Now there are specific expectations- 1) Anti dumping duty on Chinese power equipment, 2)Encouragement for renewable energy and developing home grown coal mines, 3) Disinvestment more for funding subsidy of OMCs. 4) Duty cut to encourage export of automobile,IT, Pharma and Textile.
Posted By: ashim Mumbai   |  Feb 18, 2011 11:37 AM
there should be no long term & short term tax
Posted By: suresh amreli   |  Feb 18, 2011 10:18 AM
good news for infrastructure in budget 2011 like fund raise permission for long term debt to with infra bond and other resaurses
Posted By: RAMESH LALWANI CHENNAI   |  Feb 16, 2011 08:59 PM
BUDGET MUST BE COMMAN MAN FRIENDLY. LESS TAX BURDEN. BEARABLE INTEREST. LOW INFLATION. SIMPLE. TRANSPARENT. ABOVE ALL, MUST BENEFIT ALL IN EVERY ASPECT. THANKS.
Posted By: pradeep nigam Chennai   |  Feb 16, 2011 11:43 AM
Increase min exempt income slab to provide some relief to the middle class and slash the increasing prices as much as possible. Increase the money at hand for us.
Posted By: dilip patel ahmedabad   |  Feb 16, 2011 10:57 AM
stt must be removed from the stock market.
Posted By: hitesh pariyani ahmedabad   |  Feb 16, 2011 10:49 AM
the prices of essential commodities should come down as everyone is facing much problems with this kind of high prices and low salaries. Also the salaries in broking firms must also be increased and there must be a floor for them. the MASTER DEGREE HOLDERS ARE STRUGLING A LOT IN THESE DAYS DUE TO NO JOBS AND LOW SALARIES. SO GOVERMENT SHOUD TAKE CARE OF THESE MBAs. thanks
Posted By: VENKAT chennai   |  Feb 16, 2011 10:31 AM
TDS must not be collected from Senior Citizens either on thier pension or their bank FDs etc. even if their income exceeds taxable income. anyhow they will be submitting their returns. TDS deduction and sending information by the banks to the income tax department is inefficient.
Posted By: muppurisrinivasulu giddalur   |  Feb 16, 2011 10:20 AM
Extend income tax benefits under STPI Scheme for additional period 3-5yrs for SMEs
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