New tax for IT firms retrograde step: Wipro

New tax for IT firms retrograde step: Wipro
PTI
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First Published: Wed, Feb 28 2007. 01 26 PM IST
Updated: Wed, Feb 28 2007. 01 26 PM IST
BANGALORE: A new tax proposed on Indian software services exporters in the annual budget for the fiscal beginning in April should be scrapped, a senior official at Wipro Ltd said on Wednesday.
“We think this is a retrograde step in the sense that the sector has already been given tax holiday till March 2009,” Chief Financial Officer Suresh Senapaty said.
He said the government’s proposal to bring employee stock options plan under fringe benefit tax was also “unfortunate”.
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First Published: Wed, Feb 28 2007. 01 26 PM IST