Raja promises extension of tax benefits for IT firmsJune 1st, 2009 - 10:24 pm ICT by IANS
New Delhi, June 1 (IANS) The IT industry has reasons to rejoice as Communication and IT Minister A. Raja Monday promised the extension of tax benefits under the Software Technology Park of India (STPI) scheme, which is due to expire by March 2010.
The STPI scheme, which offers benefits like custom duty exemption and excise duty exemption, is popular among IT companies.
“I will fight for the scheme in parliament so that it will be extended for a couple of years more,” Raja told reporters here after taking charge of office.
He added that the semi conductor policy announced by the previous government would continue and was already attracting new proposals.
Raja said the government would take steps to promote more investments in the IT sector.
Also, hardware manufacturing will be given a push and manufacturing hubs will be promoted, the minister added.