Thursday, February 7, 2013

What the IT sector wants from Union Budget 2013?

What NASSCOM has portrayed about IT as a booming industry despite global economic volatility is well attested by the positive performance of the many IT companies. IT contributes 7.5 percent of India’s GDP besides sustaining the livelihoods of 11.7 million plus Indians.

So, what does the IT industry want from the Union Budget 2013? Here are key expectations:
·        Resolving of existing hassles over tax (direct and indirect) issues
·        Implementation of fair amendments in GAAR
·        Discontinuation or reduction of Minimum Alternate Tax (MAT) levied on SEZs
·        Clarity on transfer pricing, removing confusion regarding taxation of multiple companies of the same group.

The spate of reforms introduced by the government since September has moderately contributed towards economic boost. The IT industry likewise expects Union Budget 2013 to focus on reformative measures the big way. It is then that this sector will earn global acclaim – the evolution from BPO (business process outsourcing) to BPM (business process management).

The above post is based on expert opinion by Keshav R. Murugesh,CEO and member Board of Directors of WNS Global Services. You can read the complete article here -

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