Software firms want SEZ sops to stay, seek tax cut

NEW DELHI: India’s software exporters may lose their competitive edge on falling incentives and rising tax rates, industry executives said, and urged the government to extend the policy benefits of Special Economic Zones (SEZ) beyond April 2020, reduce corporate taxes for large companies and review the buyback tax introduced in the Budget.

The top 150 companies contribute nearly 70% of India’s software industry revenue, according to industry lobby National Association of Software and Services Companies (Nasscom). These companies, with turnover of more than ?400 crore a year, pay much more than the flat corporate tax rate of 25%, it said.