Indian IT is worried about one particular tax holiday this budget season ...Middle East

Quartz - Economy
Indian IT is worried about one particular tax holiday this budget season
source : Quartz ( Middle East ) () 19
The Covid-19 pandemic has changed the dynamics of many industries around the world. While some businesses are struggling to stay relevant, others are growing faster than before. But the pandemic has left India’s over $200 billion IT outsourcing industry in a rather precarious spot.With the majority of the Indian IT workforce working from home for most of 2020—and expectations that the trend will continue going forward—the tax benefits that these companies get under the Special Economic Zones Act, 2005, have come under the scanner.First introduced in April 2000, SEZs are duty-free enclaves that offer 100% income tax exemption on revenue from exports for the first five years and 50% for the ne

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