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Monday, Jul 13, 2009
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 Industry & Economy - Budget
Not a dynamic Budget for SMEs in IT sector

This year’s Budget has not been up to the expectations of the small and medium enterprises in the IT sector. The STPI benefits have been extended only for a year, though the sector had expected an extension of a longer duration. Similarly there has been a pronounced increase in MAT from 10 per cent to 15 per cent.

The SME sector was mainly looking forward to some major changes in these two categories.

The abolition of FBT is a welcome move; but it does not offer much consolation because of these measures.

For those who come in the middle and lower income category, there are not many benefits in personal tax segment, while for high income category, the removal of surcharge may help.

This is not a dynamic Budget as was promised and put forth by the Government, since it does not contribute much for the development of IT SMEs who contribute a good share to the exports of the country.

P. Mythili,

CFO, Amtex

Systems Pvt Ltd

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