Tax rebate for ITES cos in Pune

The local civic body of Pune city — Pune Municipal Corporation (PMC) has offered a property tax rebate for IT companies and firms providing IT Enabled Services
(ITES).

Henceforth, IT and ITES units in Pune will not have to pay property tax at the commercial rate, which is as high as Rs 5.20 per square foot, Dilip Tupe, Chairman of the standing com-mittee, PMC, told reporters.

Instead companies will attract a standard rent for residential properties, which is calculated at Rs 1.30 per sq ft. The only condition is that the IT and ITES companies should be registered with director of Industries,
Maharashtra.

According to Tupe, this step would go a long way in attra-cting IT and ITES companies to the city. The government of Maharashtra has recently directed all municipal corpo-rations to take such policy decisions.

Cyber News Service