Satyam Infoway Ltd-(Nasdaq:SIFY) Message Board

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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY)

SIFY 15.10

+3.6%

Jan 9 9:30 AM EST

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To: arin8192 who wrote (905)	2/29/2000 7:28:00 AM
From: Mohan Marette	Read Replies (1) of 1471

OT Budget Highlights- Software companies to pay 3% tax 29-02-2000 16:50:25 Software companies will end up paying 3% tax and not 8% as was earlier expected. Finance Minister had announced in the budget that 20% export income of all the companies would be taxed. However he has not abolished section 10 of the Income Tax Act under which income earned in software technology park is exempt and the software companies have been kept outside the purview of MAT. Thus despite a lot of noise generated by tax levied on software companies in reality the tax is nominal. Besides a large number of companies involved in software development work abroad are paying tax, thus the impact will be marginal. -(Probity)

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