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
3 comments:
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.
Great work as usual.
All taxes are regressive.
There should be taxation on booze and prostitution only.
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