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The presentation provides an insight into the impact Budget 2011-12 had on the IT sector and expectations from the upcoming Budget for the IT sector.
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Information Technology Sector : Budget Spotlight
What to expect for the IT Sector
• Last year’s budget was not kind to the IT sector. The 2011-12 budget had imposed Minimum Alternate Tax (MAT) on Special Economic Zones (SEZ) units while not extending the tax benefits under the STPI scheme. This had a negative sentimental impact • For the upcoming budget, the industry has recommended that the Finance Minister rolls back the MAT burden on the SEZ s and also provide IT exemption to units based on their size (SMEs) and area of operation (Tier 2 and tier 3 cities)
Spotlight: IT Sector by Dipen Shah – Head, Fundamental Research
• Due to the pressing concerns on the revenues front, we believe that the Finance Minister may not accept these recommendations • So we expect a neutral budget for the sector on the whole • We maintain our positive view on the sector with a medium-to-long term perspective
Expectations for the IT sector : Budget 2012-13
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• Registered office: Kotak Securities Limited, 1st Floor, Bakhtawar, 229, Nariman Point, Mumbai - 400021. SEBI Registration No: NSE INB/INF/INE 230808130, BSE INB 010808153/INF 011133230/INE 011207251, OTC INB 200808136, MCXSX INE 260808130.
• Disclaimer: Investments in securities are subject to market risks, please read the SEBI prescribed Combined RDD prior to investing.
• * Awarded Best Brokerage Firm in India by AsiaMoney in 2006, 2007, 2008 and 2009