Finmin Asked To Extend STPI Scheme
23 Apr 2008 | Print
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Business-standard reports that the Software Technology Parks of India (STPI) has appealed to the Finance Ministry to extend its STPI scheme, which promises a tax holiday to IT companies, beyond March 2009 by viewing the issue sympathetically.
Speaking to reporters after releasing the ISA-IDC Report on ‘India Semiconductor and Embedded Service Industry (2007-2010)’, E K Bharat Bhushan, Director-General, STPI said: “A majority of our members are small and medium enterprises (SMEs) and they cannot afford to pay high leasing costs in the special economic zones. In this backdrop, we request the finance ministry to help the SMEs by extending tax exemptions to them under the STPI scheme. We don’t want the SMEs to suffer from disadvantages.”
Bhushan said the uncertainty over extension of the STPI tax exemption scheme had caused a dip in the registration of IT companies.
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Sandeep Kaujalgi
