A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-budget consultation on Monday. Representatives from the IT, startups and mobile devices sectors met Finance Minister Nirmala Sitharaman to put forward their demands from the Budget next year. “What we have suggested is that given that they have reduced the manufacturing corporate tax rate to 15 per cent…the fact that the SEZ sunset is happening, at least for the new services companies in SEZs, if you make it 15 (per cent), then you will have one composite rate in SEZ for both manufacturing and services,” Nasscom Senior Director and Public Policy Head Ashish Aggarwal told PTI after the over two-hour meeting. He added that combined with other criteria like employment and investments over a period of time, SEZs can drive further growth. Aggarwal said another recommendation made was to drive innovation and growth for deep-tech startups in the country. “Set up a fund for deep-tech companies…it is no longer just about low-value jobs. The focus is on deep-tech…. Read full this story
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