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Our Bureau

Chennai , Oct. 18

The Ministry of Information Technology would soon send a note to the Union Cabinet for extending concessions to IT companies under STPI (Software Technology Parks of India) scheme beyond 2009, according to Mr Dayanidhi Maran, Union Minister for Communications and IT.

"I support the IT industry's request to extend concessions under STPI beyond 2009," he told newspersons after inaugurating the Chennai development centre of MindTree Consulting.

At present, STPI units are exempted from payment of corporate income tax for a block of 10 years (up to 2009-10). There is also 100 per cent customs duty exemption on imports of capital equipment and import of equipment on a loan or lease basis.

According to Mr Maran, SEZs help large companies set up their operations in huge areas. However, for small companies the STPI provides a helping hand to set up operations and grow, he said.

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