Posted On December 12, 2016 By In Technology And 668 Views

IT sector meets FM Arun Jaitley for a Non-taxing Budget

NEW DELHI: The technology sector, in a meeting with finance Minister Arun Jaitley on Saturday, asked for better taxation policies and norms this budget, in the software and hardware, including addressing the issue of credits related to the equalisation levy that has been a cause of concern for startups since it was announced in the last budget. In the meeting the software services industry body ­ National Association of Software and Services Companies (Nasscom) and hardware industry body MAIT had a positive discussion with Jaitley. “We had a good meeting where we brought out the concerns of IT industry and how the government can support the industry at a time when it is passing through a difficult time,“ said R Chandrashekhar, president of Nasscom. The main areas Nasscom focused on are improving ease of doing business, increased incentives for R&D, issues surrounding GST and taxation issues that plague startups. In order to encourage R&D and innovation, the industry has asked for the provisions existing in Income Tax Act to be made applicable to the IT industry as well. Chandrashekhar further said that government should provide ease of doing business for startups and small and medium businesses.

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