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STPI says no to middlemen

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CIOL Bureau
New Update

BANGALORE: The Software Technology Parks of India, Bangalore (STPI-B) has denied that there were any 'middlemen’ or 'agencies' involved to help new companies register with STPI.





In a statement, STPI said that following the recent Union Budget announcement of tax on software exports, there had been a spate of software companies rushing to open offices in STPIs to enjoy the tax benefits. "Since then, STPI-B, along with genuine applicants, have been getting calls asking whether STPI has stopped issuing applications and that some agencies have offered their services in procuring and processing applications," the statement said.





Clarifying about this, STPI-B director B.V. Naidu said, "To ensure that companies genuinely interested in setting up shop under the new scheme (are allowed), we are pulling out all stops and taking necessary precautions to prevent the so-called "middlemen" in interfering in our activities. We request companies not to heed to their claims/advice and to approach us directly."





Under the new scheme, a company which registers and starts operations before March 31, 2000, will be eligible for a ten-year tax exemption.

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