The Ministry of Finance has invited suggestions for the Union Budget 2015-16. NASSCOM, in the recently held budget exercise (July 2014), shared the following software product taxation issues.
- Dual levies on software-vat and service tax
- Impact of 10% TDS on software payments – working capital and operational issues
- Clarification on requirement to deduct TDS on upgrade and subscriptions
- Inadequate abatement for packaged/canned software for payment of excise duty
- Revisit thresholds for SMEs
- Increase threshold limits of section 194J of the Income Tax Act, 1961
We invite suggestions from you on what issues should be taken up this year for resolution. Please fill out the details in the format available at
and send them to firstname.lastname@example.org. To allow for the NASSCOM team to compile and rationalize the inputs, we would require these suggestions by October 5th 2014.
Look forward to your inputs.