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Coimbatore, Feb. 21

The radio industry is expecting the Finance Minister to announce a cut in the service tax and lowe income tax rate for the sector in the forthcoming Union Budget. Sharing his wish list with Business Line, Mr Tarun Katial, Chief Operating Officer, BIG 92.7 FM, said since the radio industry is still in its infancy and there is great employment and media opportunities in the semi-urban and rural markets, a reduction in the service tax rate and lowering of the IT rate would trigger the industry’s growth. He also sought ‘an 8-year tax holiday to FM radio operators, fringe benefit tax concessions and removal of service tax for the radio broadcasting industry.’ He said the local advantage extended to radio as a medium would diminish if the radio broadcasting sector alone was brought under the ambit of the service tax. ‘The print media is outside the ambit of service tax,” he pointed out.

— Our Bureau

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