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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (993)	3/2/2000 9:15:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

IT firms will bag exemptions for about ten years Kailash Rajwadkar MUMBAI, MARCH 2: The software entrepreneurs probably have their last chance to avoid taxation on their earnings provided they locate their new companies in software parks before March 31. A senior advocate and an expert on taxation Firoze Andhyarujina said that even if Section 10 A of Income Tax Act is deleted from March 31, 2000, software companies will continue to get exemptions from their earnings for a period of ten years from the commencement of business. Andhyarujina was speaking at a post budget seminar organised by the Association of Merchant Bankers of India (AMBI). Director and vice-chancellor of Indira Gandhi Institute of Development Research Kirit Parikh said doubling the dividend tax will compel companies to reinvest their money which in turn will lead to reinvestment and capital formation. Andhyarujina said that it requires pragmatism on part of the finance minister to take bold decisions. -Financial Express