Tax cuts expected for IT sector

— Sakal Times

 

With the latest innovations in the IT industry, experts from the industry are expecting a start-up and innovation-friendly budget. Experts from the industry said for India to dominate globally in the field of financial technology, artificial intelligence, internet of things, Blockchain technology, digitization, the government should support start-ups and innovations in a different manner.

Speaking to Sakal Times, Cybage CEO Arun Nathani said, “Budget 2019 is an Interim Budget and the last roll of the dice for the current government before the General Elections. Hence, populist measures are expected. Currently from an industry perspective, there is a double taxation on dividend. The companies have to pay corporate tax and tax on the dividend declared.

Dividend received by shareholders is also taxable in the hands of an individual. So, simplification of the tax structure will help the industry as well as encourage businesses. This will boost the economic growth further.”

Read more: http://www.sakaltimes.com/pune/tax-cuts-expected-it-sector-31056