It appears you have not yet registered with our community. To register please click here...

 
Go Back [M] > Madshrimps > WebNews
India to relax tax rules for software sector India to relax tax rules for software sector
FAQ Members List Calendar Search Today's Posts Mark Forums Read


India to relax tax rules for software sector
Reply
 
Thread Tools
Old 26th September 2012, 07:25   #1
[M] Reviewer
 
Stefan Mileschin's Avatar
 
Join Date: May 2010
Location: Romania
Posts: 131,012
Stefan Mileschin Freshly Registered
Default India to relax tax rules for software sector

The Indian government is fighting to keep tax rules favourable for the information technology sector, hoping this will attract software development companies to the country.

Prime Minister Manmohan Singh has put together a panel to ensure the country gets a big bite of the $70-billion industry and to repair the flagging investment from overseas company.
According to sources within the government, he has recommended favourable tax treatment and a stable tax regime for software sector.

The India Economic Times reports that the Rangachary panel had many consultations with software experts before producing its recommendation reports. Infosys was just one company that claimed that the tax problem was a "big distraction" for the industry

The Rangachari panel will now work to complete the basis for "safe harbour" rules for each sector by December this year. Tax authorities will then have to accept transfer prices declared by these companies.

Another big complaint for Indian software companies relates to tax treatment of profits earned from work that they do at their clients' sites. Tax authorities have raised demands on these companies, saying that onsite activities cannot be treated as exports and hence do not qualify for a tax exemption.

The government has also said it may look into this at a later date. Indian Standard Time.

http://news.techeye.net/software/ind...oftware-sector
Stefan Mileschin is offline   Reply With Quote
Reply


Similar Threads
Thread Thread Starter Forum Replies Last Post
Dell executive wades into India Stefan Mileschin WebNews 0 21st August 2012 07:23
AMD sees gold in India Stefan Mileschin WebNews 0 19th April 2012 07:42
India to shelve $50 tablet Stefan Mileschin WebNews 0 17th January 2012 07:48
FTC rules against Intel jmke WebNews 0 14th January 2010 14:08
India becoming too expensive for tech firms jmke WebNews 0 18th April 2008 17:10
If you want to call India: Sidney General Madness - System Building Advice 10 9th February 2007 17:17
Video games outsourced to India Sidney WebNews 1 23rd September 2005 21:12
India closes in on $100 PC Sidney WebNews 4 30th June 2005 08:32

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


All times are GMT +1. The time now is 00:39.


Powered by vBulletin® - Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO