New Delhi [India]: A delegation of Information and Technology industry on Saturday met Union Finance Minister Arun Jaitley to discuss their concerns before the budget exercise.
“We talked about supporting SMEs and start-ups, and removal of tax treatment of investment by residential and non-resident investment. There are protectionist forces that are getting stronger,” R. Chandrashekhar, President of the National Association of Software and Services Companies (NASSCOM) said.
“We talked about ease of doing business .There are market challenges worldwide. There should be same incentives for R&D and technology for IT industry as it is for other industries. The RBI has made it easy by keeping low value transitions,” he added.
“Regulatory structure will be designed for the ease of the sector. The steps taken in the last budget have yielded enough,” Pankaj Mohindroo, President, Indian Cellular Association, said.
“Tax rate should not be more than 12 percent. We talked about Component resources. We have demanded for duty differential scheme,” Nitin Kunkolienkar, Vice President, Manufacturers’ Association for Information Technology (MAIT), said.
All three met the Finance Minister to put forward industry demands in face of multiple global challenges.