Tuesday, July 15, 2008

IT INVESTMENT REGIONS NOT ELIGIBLE FOR NEW TAX BENEFITS

The Information Technology Investment Regions (ITIRS) being planned across the country will lay stress only on creating infrastructure. The ITIRs will not be eligible for new tax benefits. A policy resolution for the ITIRs was gazetted on May 28. The ITIRs, which will be mostly built on the private public partnership model, are planned to promote investment in the IT, IT-enabled services sectors and electronic hardware manufacturing. If there are any special economic zones in the ITIR area, they will get existing tax benefits eligible for them. INVESTMENT REGIONS The idea of ITIRs is to create huge IT investment regions where the Central Government will provide infrastructure like airports, roads and telecom, and States will provide land and power.

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