Financial Daily from THE HINDU group of publications
Wednesday, Mar 16, 2005
Financial Daily from THE HINDU group of publications Wednesday, Mar 16, 2005 |
|
|
|
|
|
Info-Tech
-
Taxation Industry & Economy - Industry Associations Nasscom writes to Ministry on fringe benefits tax issue Our Bureau
New Delhi , March 15 EXPRESSING concern over the recent Budget announcement on taxation of fringe benefits, software association Nasscom has written to the Finance Ministry saying genuine business expenditure should not be covered under the tax net. "We strongly feel that genuine business expenditure must not be covered under fringe tax. The proposal covers expenditure such as office phones. It could be disastrous for business process outsourcing companies. We feel this needs to be modified," said the Nasscom President, Mr Kiran Karnik, on the sidelines of a conference here. The Budget proposes to tax perquisites to employees, including entertainment, festival celebrations, use of club facilities, reimbursements, gifts and use of telephone. "Nasscom has given the Finance Ministry some specific suggestions recently," Mr Karnik said In its representation, Nasscom has also asked the Government to address the issue of BPO taxation. On security issues in the wake of recent bomb scare at the office of an IT company in Bangalore, Mr Karnik said: "Terrorists look at soft and visible targets and IT industry is a visible target. There are vulnerabilities that can't be shut off."
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|