Budget 2018: This is what the technology sector wants from FM Arun Jaitley

Ahead of the announcement of Union Budget 2018, Tech Industry leaders share their concerns and demands

Key issues

• Newer technologies such as artificial intelligence, cloud, etc, are changing the rules of the game for incumbent IT players 

• Impact of new regulations such as H1B, GDPR could result in higher deployment costs as well as increased compliance costs 

• Convergence in online-offline business models in the e-commerce sector, largely due to heightened competition

What industry wants

• Adjustments to past years’ income emanating from APAs should be recognised as income of those years itself

• Equalisation levy should be treated as tax on income and be eligible for tax credit in a foreign country to the overseas online ad businesses 

• Extend the exemptions granted to STP