India to mull tax sops for IT firms: Sibal

India is trying to pass a bill in parliament to overhaul its archaic direct tax laws.

India will consider giving tax sops for information technology companies after the direct tax bill comes into affect,Federal Telecoms and Information Technology minister Kapil Sibal said on Friday.

India is trying to pass a bill in parliament to overhaul its archaic direct tax laws,a key reform aimed at simplifying procedures for investors and bring in more revenue by widening the tax net.

We will certainly try and do something,Sibal told reporters without giving details.

A spurt in tax rates due to expiry of the Software Technology Parks of India (STPI) scheme earlier this year has hurt margins and crimped profits at Indian IT firms.

Tags:
Kapil Sibal

Common supplies to joint training: Armed Forces look at steps ahead of theatrisation

India3 hr ago

Indian Armed Forces are working towards greater jointness and integration among the Army, Navy, and Air Force through standardizing equipment, supply chains, and training. The Combined Commanders Conference discussed measures to improve understanding and create theatre commands.

View all shorts

Live Blog

PHOTOS