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Fixing problem STEMs

An article in conversation with Mr. Som Mittal, President, NASSCOM, talking about his coporate journey and other industry issues. On the safe harbour rules and the Rangachary report, Mr. Mittal is pleased with the report’s recommendations on not using Profit-Split method to tax R&D centres. However, what is unfortunate is that the report was submitted in September last year while the circular on this came out only 9 months later. On the US protectionist issue, Mr. Mittal adds that while the Indian IT firms are trying to go up the value chain, the US Immigration Bill doesn’t affect their ability to work, however, creates a temporary and an unfair problem.