Executive director and chief financial officer S Mahalingam welcomed the abolition of fringe benefit tax (FBT) announced in the Budget.
"The abolition of FBT is positive for companies like TCS employing large number of professionals," he said.
Referring to the increase in rate of minimum alternative tax (MAT) from 10 per cent to 15 per cent, he said it would hit from the point of view of cash flows.
He said there has been no reference to e-governance projects in the Budget which was something the IT sector was looking forward to.
Overall, Mahalingam observed that the Budget was not disappointing. "We could not have expected much given the high fiscal deficit," he said.