IT sector needs support from Govt: Official

Hyderabad, Mar 2 (UNI) The Indian Information Technology sector, which has created a niche for itself outdoing China in the global market requires all support from government, including continuation of the Sunset clause of 10-year tax holiday, an official said.

Income Tax Chief Commissioner P P Jauhari told a meeting here this evening organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry on the Union Budget, that the ''IT sector will be left with little surplus for expansion and effectively compete in the global market following the Budget proposal to tax 11.22 per cent of the adjusted book profits as Minimum Alternative Tax (MAT)''.

The Sunset clause for tax holiday should be extended so that India could emerge first in the sector, he opined.

UNI