Ignoring of demand of STPI extension disappoints IT industry
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BANGALORE: IT industry is disappointed that its demand for extension of the Software Technology Parks of India (STPI) scheme beyond 2009 was ignored in the Union Budget on Friday. Industry officials, however, kept a brave face, saying that they expect the issue to be dealt by the Government post-budget or in the next budget. The STPI scheme that provides a 10-year Income Tax exemption in software technology parks expires, in March 2009. “The STPI extension request was not addressed. We have one more budget to go. It could very well happen in post-budget announcements or in the next budget”, Chief Financial Officer of Bangalore-based Wipro, Suresh Senapaty, told PTI. Source: ET |