Moneycontrol PRO
Upcoming Webinar:Moneycontrol Pro in association with Quants League Sep'21 Edition brings to you to 5-Days Live Algorithmic Options Trading Virtual Conference. Register Now!

India to mull tax sops for IT firms: Sibal

India will consider giving tax sops for information technology companies after the direct tax bill comes into affect, Telecoms and Information Technology minister Kapil Sibal said on Friday.

October 07, 2011 / 08:20 PM IST

India will consider giving tax sops for information technology companies after the direct tax bill comes into affect, Telecoms and Information Technology minister Kapil Sibal said on Friday.


India is trying to pass a bill in parliament to overhaul its archaic direct tax laws, a key reform aimed at simplifying procedures for investors and bring in more revenue by widening the tax net.


"We will certainly try and do something," Sibal told reporters without giving details.

A spurt in tax rates due to expiry of the Software Technology Parks of India (STPI) scheme earlier this year has hurt margins and crimped profits at Indian IT firms.

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark