Home > Business > Budget 2003-2004 > Report
Budget gives boost to IT, telecom sectors
February 28, 2003 16:27 IST
In a boost to information technology and the telecom sectors, the Union Budget for 2003-04 has proposed to sustain and encourage the momentum of growth achieved in both the sectors.
Presenting the Budget in Parliament on Friday, Finance Minister Jaswant Singh said concessions given to IT under Section 10A and 10B of the Income Tax Act will be continued, even in the case of amalgamation or de-merger.
The value of pre-loaded software has been excluded for the purpose of charging excise duty on computers.
In addition, customs duty on a number of capital goods used by the telecom and IT sector for manufacture of components will be reduced from 25 per cent to 20 per cent.
To enable the domestic industry manufacture e-glass roving used for making optical fibres, the provisions propose to reduce the import duty on specified raw materials for the manufacture of e-glass roving from 30 per cent to 15 per cent.
The tax holiday enjoyed by telecom and domestic satellite service companies has been extended by one more year till March 31, 2004.
PTI
![](/uim/common/trans.gif)
|
What do you think about the story?
![](/uim/common/trans.gif)
|
![](/uim/common/post_ur_msg.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
Read what others have to say:
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
Number of User Comments: 2
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
Sub: FM's tax relief on IT
FM's proposal's vis-a-vis IT industry are rightly placed. India is the fastest growing country in IT and the biggest role to further strenghthen that is ...
![](/uim/common/msg_more.gif)
Posted by sumesh k
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
Sub: No semiconductor manufacturer in India, why??
I read news daily about China opening up many semiconductor research and manufacturing plants. This is necessary to increase the technological advances of country and ...
![](/uim/common/msg_more.gif)
Posted by Prabhat
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/view_all_msg.gif)
|
|
![](/uim/common/trans.gif)
Disclaimer
![](/uim/common/trans.gif)