TCS and Wipro praised FM Arun Jaitley on Monday for Digital India plans and extending tax benefit to export units under SEZ scheme till 2020 in his budget for 2016-17.
Tata Consultancy Services (TCS) chief executive N. Chandrasekaran commented that FM has delivered a fiscally responsible budget. He gave it a rating of 8/10.
Jaitley presented that the benefit of section 10AA to new SEZ units would be available to units commencing activity before March 30, 2020.
Wipro CFO Jatin Dalal said that this extension would be advantageous due to the gestation time taken to operationalize production units.
The budget proposes to aid startups propagation through 100 % deduction of profits for 3 out of 5 years for startups set up during April 2016 to March 2019.
Nucleus Software Exports Ltd managing director Vishnu Dusad said “Though there are no major sops in the budget for the software product industry, the government should understand that incentives to this (product) segment will result in an exponential leap in exports and place India in a strong position on the world software product stage”.
Read more: Business Standard
