Monday, March 05, 2007

IT MATters

Reacting a good four hours after the FM finished his Union Budget speech in which he sought to levy a minimum alternate tax on 11.33% on IT companies, the main lobbying association for the sector Nasscom said in a carefully worded statement that it was dismayed at the proposal and described it as a “regressive step”. - Indiatimes Infotech, 28 February 2007


Kusum said...

I had a feeling you would do a cartoon on the MAT extending to IT companies or the ESOPs being taxed under FBT. :)

Good one.

And a very disappointing budget this one.

Jo said...

Great work as usual.

Anonymous said...

All taxes are regressive.

There should be taxation on booze and prostitution only.