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Budget 2011 gives small IT firms a big jolt

The IT industry has received a jolt. On the one hand, the much-asked-for extension of tax benefits for software and technology parks has been denied. On the other, special economic zones will now have to pay minimum alternate tax and at a higher rate of 18.5%. IT firms say this will hurt cash flow.

March 04, 2011 / 12:55 IST
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For the IT industry, Budget 2011 was a disappointment, reports CNBC-TV18

TAGS: #Budget 2011 #Business #DTC #IT Budget #IT companies #MAT #SEZs #STPI #Tax
first published: Mar 1, 2011 11:49 pm

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