The animation and gaming industry in India wants income-tax breaks on a par with software companies to produce cheaper films and compete in the Asian market.
Software companies housed in software technology parks enjoy tax breaks on their export profits. Though the benefit ends in March 2009, it might be extended for 10 years, considering that the surge in the rupee has impacted their bottom lines.
The animation and gaming industry is lobbying for similar tax benefits. “We have given a formal proposal to the information and broadcasting ministry seeking a tax holiday on export profits under Section 10 A of the Income-Tax Act. The finance ministry has also been kept in the loop,” said Ficci animation and gaming forum chairman and DQ Entertainment CEO Tapas Chakravarti.
The industry also wants government-sponsored animation institutions, with IIT stature. “We have also asked the I&B ministry to amend the TV Broadcast Bill to promote local content on Indian television channels.
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Software companies housed in software technology parks enjoy tax breaks on their export profits. Though the benefit ends in March 2009, it might be extended for 10 years, considering that the surge in the rupee has impacted their bottom lines.
The animation and gaming industry is lobbying for similar tax benefits. “We have given a formal proposal to the information and broadcasting ministry seeking a tax holiday on export profits under Section 10 A of the Income-Tax Act. The finance ministry has also been kept in the loop,” said Ficci animation and gaming forum chairman and DQ Entertainment CEO Tapas Chakravarti.
The industry also wants government-sponsored animation institutions, with IIT stature. “We have also asked the I&B ministry to amend the TV Broadcast Bill to promote local content on Indian television channels.
Read More Article...
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