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Expect govt to cut corporate tax

We hope for a Lower Corporate Tax and hope that it will act as a boost up to the domestic software market.

Diwakar Nigam        Last Updated: February 17, 2016  | 13:19 IST

Diwakar Nigam, MD, Newgen Software
We hope for a Lower Corporate Tax and hope that it will act as a boost up to the domestic software market.

  • Gradual reduction in corporate tax rate with effect from 2016 will act as a boon for domestic software market
  • India is being looked upon as an advanced technology hub by foreign multinationals and a lower corporate tax will make the India software market more lucrative for further opportunities such as lucrative technology investments.
  • A lower corporate tax rate will also boost research and development activities in the country in terms of software platforms and the domestic software market will suffice the Union Government's Digital India push with made in India products
Lower Minimum Alternate Tax (MAT) along with strong monetary incentives should help in leveraging the research and development activities undertaken by the Indian software product companies.
    
Domestic software industry, with the right kind of support and encouragement, can lay down a strong platform for the Union Government's Digital India push :-

 

 

  • Incentives for setting up more data centers
  • Incentives for Digitisation of SMEs

 Developing and safeguarding advanced indigenous technology is integral to 'Make in India' initiative

 

 

  • Stricter IPR laws beside the patent filing support for the MSME's, especially for home-grown Software Product companies.
  • Recent announcement - such as the establishment of a fast-track mechanism for start-ups to file patent applications with an 80 percent rebate, is also a welcome step towards the protection of intellectual property

 

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