IT MINISTRY MOOTS EXTENSION OF STPI BENEFITS TILL 2015

The Union IT ministry is keen on extending the tax benefits to the Software Technologies Parks of India (STPI) by another five years till 2015, and is in talks with the finance ministry. Jainder Singh, Union IT secretary, said, “We have already taken up the matter with the finance ministry as we believe that the extension is important for the IT units, especially the small and medium exterprises.” The Interim Budget announced this month did not spell out any relief for the export-oriented Indian IT industry, where the tax exemptions available under the STPI scheme were slated to come to an end in March 2010.

The income tax benefits under section 10-A and 10-B were extended till 2010 in last year’s Union budget from the earlier scheduled 2009.