'What I hope to do is provide a vehicle for that scale and growth in literacy and English as a second language here.'
It was government policies, not ITA-I, according to a recent study.
Chennai is slowly becoming a hub in providing support for gaming and android-based technologies.
Small and medium information technology companies operating out of the Software Technology Park of India (STPI) and who have not relocated their business operations to the special economic zones (SEZs) could stand to lose a substantial part of their tax holidays after the forthcoming Budget.
IT sector wants STPI benefits extended for one year in this Budget.
Posco ICT is the IT arm of South Korean steel giant Posco, which proposed to set up a 12 million-tonne steel plant near Paradip.
The government is expected to end the benefits under Section 10A and 10B of the Income Tax Act.
Most IT companies today have multiple delivery centres, physically verifying documents is arduous and difficult to determine where the actual billing is done
The Union budget marks a watershed in the life of the Indian information technology services industry, akin to a family's coming of age rites of passage!
The Centre expects its revenue loss on account of tax sops to export oriented units under Software Technology Parks of India (STPI) scheme to go up by over 21 per cent to Rs 11,501 crore (Rs 115.01 billion) this fiscal, over the previous financial year.
Polaris gets over 90 per cent of its revenue from exports. Till financial year 2009-10, the company did not actively think about a strategy to buy space in a special economic zone.
The software industry on Friday hit out at the government for increasing the minimum alternate tax and for ignoring the industry's plea for extending STPI scheme which would have continued to give tax breaks.
The data centre will act as a disaster recovery platform.
The move to extend the income tax benefits enjoyed by units covered by the Software Technology Parks of India Act and those set up in export oriented units by another year -- up to March 31, 2011 will benefit around 6,000 STPI units and 2,486 EoUs. In its budget-related wish list, the commerce ministry had recommended a three-year extension of the scheme, while the industry has been asking for five.
Extending STPI tax benefits beyond 2010 (it was extended by a year in 2009) has been a long-standing demand of the software sector.
The government has given an 'in-principle' approval to the special incentive package prepared by the department of information technology for semiconductor manufacturing and other high-tech industries.
Among the other demands in its pre-Budget Memorandum 2008, the IT industry body has also suggested broadening the eligibility criteria for the large tax payer unit scheme, foreign tax credits, advance pricing agreements to provide upfront tax certainty, and refund of service tax paid on services utilised for export of computer software and BPO services.
The central government is likely to extend the Software Technology Parks of India (STPI) scheme beyond 2009 only to Indian information technology-enabled services/business process outsourcing (ITeS/BPO) firms. A proposal to this effect has been included in the 11th Five-Year Plan document, which will be put up for the approval of the National Development Council, headed by the prime minister, on December 19.
Though the Planning Commission favours imposition of a direct tax on Special Economic Zones (SEZs), it does not agree with the contention that these tax-free industrial enclaves are leading to revenue loss.
In a big-ticket measure, the direct tax benefits to 100 per cent export-oriented units (EoUs) have been extended till March 31, 2010. These benefits, available under Section 10 B of the Income Tax Act, were to expire on March 31, 2009.
Union Minister for Communications and Information Technology, A Raja on Wednesday assured that the Indian IT sector that the ministry was doing its best to convince the government that the Software Technology Parks of India (STPI) scheme should be extended beyond 2009.
Software industry association Nasscom has sought continuation of software technology parks of India scheme where companies get tax benefits, till 2019.
Information Technology Small and Medium Enterprises of Orissa will approach the state government for the reimbursement of the basic salaries of technical personnel joining the sector for a period of 1-3 years.
Right from day one, the delegates were faced with external odds over which they had little or no control. For instance, would the Software Technology Parks of India scheme be extended beyond 2009? They could only take home the assurance that Minister for Communications and IT Thiru A Raja was on their side.
The appreciation of the rupee, the dividend distribution tax and the hangover of the minimum alternate tax on information technology companies under the Software Technology Parks of India scheme have pulled the prices of IT stocks down.
India's smaller cities and towns would register a faster growth in software and business process outsourcing exports as information technology and BPO firms, backed by booming offshore orders, expand into secondary cities to arrest costs and talent a
Software companies registered with STPs in Haryana, UP, Delhi, West Bengal and Orissa have also posted strong growth.
Offshore projects accounted for over 70 per cent of the total software exports of Tamil Nadu during 2003-04, according to Software Technology Parks of India, Chennai.
Thirty foreign information technology and business process outsourcing firms have committed an investment of Rs 670 crore (Rs 6,700 million) in Bangalore during the first quarter of the current financial year.
Google Inc, the world's largest search engine, is all set to open a high-end research and development centre in Bangalore.\n\n\n\n
Outperforming it's own projections, Karnataka has reported a 52 per cent jump in software exports at Rs 27,600 crore (Rs 276 billion) during 2004-2005 and set a target of Rs 35,000 crore (Rs 350 billion) for the current fiscal.
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