The Telegraph , New Delhi,3rd June2009 Exporters sought tax sops and a Rs 5000-crore market development fund from finance minister Pranab Mukherjee during the pre-budget meeting today.
Separately, infotech captains requested Mukherjee to continue with the tax incentives. Sources said Mukherjee was open to giving some fiscal sops to exporters. He, however, appeared to be uncomfortable about too much relief, given the country's high fiscal deficit. The exporters' wish list also included the elimination of the fringe benefit tax, exemption from income tax, reduction of interest rates and speedier insurance and service tax refunds. "Exporters are passing through a difficult phase in view of the global slowdown. Income tax exemption for five years will help us reduce prices and remain competitive. The government should take immediate steps to prevent the sector from sinking further. Appreciation of the rupee has meant more gloom for us," A. Sakthivel, president of the Federation of Indian Export Organisations, said. Sakthivel said there were signs of improved demand, but buyers had become very cost-conscious. The Indian government should provide incentives so that exporters can keep a rein on prices. Exporters will meet commerce minister Anand Sharma tomorrow. Meanwhile, Nasscom, the software lobby group, sought tax breaks and sops from Mukherjee. The Nasscom delegation, headed by chairman Pramod Bhasin, demanded the extension of tax benefits for firms and small and medium companies housed in software technology parks beyond April next year. In addition, the delegation wanted an end to the multiplicity of taxes such as fringe benefit tax. Source: http://www.nasscom.org/Nasscom/templates/NormalPage.aspx?id=56554 Warm Regards, --------------------------------------------------------------------------------------- CA. Vinod Dasani Website: www.charteredaccountant.co.in Cell: +91-9322238407 Skype: vinod.dasani Public Profile: http://www.linkedin.com/in/vinoddasani Blog: http://vinoddasani.blogspot.com/ --------------------------------------------------------------------------------------- --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Skorydov MyTaxAssistant Member Group" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/SkorydovMyTaxAssistant?hl=en -~----------~----~----~----~------~----~------~--~---
