The Hindu Business Line : Ministry to take up STPI tax sop extension

Chennai, Sept. 12 The Ministry of Communication and Information & Technology will consider the IT industry’s demand to extend tax concessions by another year for units in Software Technology Parks of India (STPI), Mr A. Raja, Minister for Communications and IT, said.

Another extension

The STPI clause was to have lapsed on March 31, 2009, but the last Budget announced its extension by one year. The IT industry has asked for one more year’s extension, he said.“I cannot assure you now, but will speak to the Prime Minister and the Finance Minister on this,” Mr A. Raja said at Connect 2008, a two-day annual ICT (information, communication and technology) event organised by the Confederation of Indian Industry along with the Tamil Nadu Government.

“The unique features of STPI are its tax transparent policy environment, single window clearance and a clutch of tax concessions,” he said. I

t provides suitable environment for the growth of the small and medium enterprise segment and assistance in terms of basic infrastructure support in the form of business incubators aimed at start up companies, he added.

After the Centre announced its semiconductor policy last year, an investment of around Rs 1 lakh crore had been committed by foreign investors, he said.

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