In the Indian Budget 2008, presented by the honorable finance minister Mr. P Chidambaram, an increase of four percent on the taxes on packaged software products has been announced. However, this move has met with disapproval from the Information Technology industry as it is expected to double the threat of piracy that already looms large on the industry.
The rate was eight percent before the budget was introduced. Now the rate of taxation on packaged software products stands at twelve percent. The new rate is expected to have a detrimental effect on the Information Technology industry as far as the question of piracy is concerned
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