Post-Budget Reaction by Mr. Vinod Kumar, Managing Director at Satcom Infotech
Overall the budget is an investment friendly budget for our economy. The proposed cut in corporate tax coupled with universal social security scheme makes it a well balanced budget for all classes.
The increase in service tax is an increased burden for the IT sector. On the plus side for the IT sector is reduction in TDS rate on technical fees and royalty the new tax exemptions for salaried is also a welcome plus from the budget. The budget also looks positive for curbing black money circulation in property transactions.
