Here is an excerpt taken from Hindu Business Line online edition. Our COO, Kamesh Ramamoorthy shares his insight on the Tax Structure.
Single tax code that will ensure common tax structure for software and commodities will help in substantial savings. This will simplify the tax structure and make it easy to interpret for all. Sops for indigenous product companies that are investing in R&D in India and creating assets to service the global market. This could be in the form of listing them as preferred vendors for Government and public sector projects subject to them matching the required technical and product expertise criteria; investment allowance for certified indigenous product companies which will boost local companies to do R&D.
Strong focus on promoting Small and Medium Enterprises such as bringing back the special subsidies given to SMEs for investments in IT will help in faster adoption of IT among the SMEs; easy loans, and better interest rates.
Chief Operating Officer, Ramco Systems
This excerpt was published in Hindu Business Line dated 16 February 2011