New Delhi, Sept 19 (ANI): In its draft proposal, the Revenue Department of Finance Ministry has proposed lessening of taxation burden for the IT sector so as to enable those engaged in this segment to safely harbour their profits. Revenue Secretary Sumit Bose stated this at a news conference in New Delhi. He said the government had issued a notification with an objective to curb the disputes related to transfer pricing by relaxing the prevailing norms. Further he said that the proposed norms, if finalized, would prevail for five fiscal years.
