IT GETS MAJOR TAX SOPS
Article Abstract:
The government has announced several major tax incentives for the information technology (IT) sector. The incentives include 60 percent depreciation on IT products and tax exemptions for all software used in the IT industry. All software used in IT sector will be exempt from customs duty. Definition of computer software will be widened to include transmission data. Computers and computer peripherals imported under 100 percent EOU/EPZ/STP/EHTP schemes which are to be donated to recognised educational institutions, government organisations and registered charitable institutions will be exempt from custom duty for a period of two years from the date of import. The government has waived gift tax on computers. (gs)
Comment:
India: Government announces several major tax incentives for information technology sector
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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IT INDUSTRY RIDES HIGH ON TAX SOPS
Article Abstract:
The Information Technology (IT) industry is expected to benefit from the tax concessions announced in the 1998-99 budget. The industry is expected to witness a rise in direct tax savings and increase in investments. The number of companies in the industry is expected to increase due to concessions provided to software producers under 80 HHE. The domestic market to likely to expand due to hike in depreciation on computers and exemption of customs duty on donation of computers imported under EOU/EPZ/EHTP/STP. Nasscom has revised its projection of software exports for 1998- 99 to Rs10,600 crore. (ag)
Comment:
India: Local Information Technology industry is expected to benefit from the tax concessions announced in the 1998-99 budget
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TAX SOPS WILL CUT PRICES OF COMPUTER, SOFTWARE: IT COS
Article Abstract:
According to National Association of Software and Service Companies (NASSCOM), the incentives offered by the Indian government for the information technology (IT) sector will reduce the prices of computers and software. The incentives include zero duty on all IT products by 2003 AD, tax incentives, exemption from excise duty and exemption of gift tax on computers. The increase in depreciation limits will encourage software firms to invest more on IT capital goods purchases and it will make computers cheaper. (gs)
Comment:
India: Plans to introduce zero duty on all products of information tech sector to reduce prices of computers & software
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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