Rationalise tax regime, extend STP scheme in Budget: Infy

IT major Infosys CEO and MD Kris Gopalakrishnan today expressed hope that the government would rationalise tax regime for the IT industry and extend the STP scheme to the medium and small sector in the Union Budget.

At the industry level, supporting medium and small sized enterprises by extending the Software Technology Park (STP) scheme to them, up to Rs 100 crore, could be considered, Gopalakrishnan said.

The industry veteran also called for changes in the service tax refunds regime.

"Why (should) there have to be a refund, why don't they eliminate them completely...These are the simplifications the government can make to help the industry," he said.

Touching upon other issues, he said IT industry expects the government to take conducive steps for IT industries in the Budget and make sure that more people get jobs in the sector.

"The government should allocate funds for creating more jobs in industries (IT industries), making sure that more people are benefited from the Budget," Infosys' CEO and Managing Director, Kris Gopalakrishnan, told reporters at the Nasscom Summit here.

At a broad level, investment into job creation and infrastructure and making sure that there is a timetable in the implementation of policies such as Goods and Services Tax so that uncertainties are removed are important, he said.