Govt. should support IT product companies and offer incentives  to boost innovation: Newgen Software

IT Product companies, unlike services companies, have unique requirements hence the government has to support product companies and offer incentives to boost innovation, providing a level playing field. We expect a reduction in the rate of Minimum Alternate Tax on SEZs as the current rate of 18.5 percent is quite high. We also hope that the government cuts corporate tax rate to 25 percent across the board irrespective of turnovers, in the forthcoming budget, to spur economic growth. To amplify Make in India initiative, now is the time for the government to encourage product companies by introducing incentives which help them become globally competitive and take product innovation to the next level.




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