Maharashtra was one of the first Indian states to create a policy for information technology and technology-enabled services in 1998.The 2023 IT-ITES policy is driven by significant objectives and a vision to foster innovation, attract more investments, and create an environment that is conducive to technological advancement in Maharashtra. The 2023 Policy is valid for a period of five years from June 27, 2023 or until a new policy is released.
The primary goal of the 2023 Policy is to establish the State of Maharashtra as the technological hub of India and a worldwide destination for information technology (IT) and ITES. And to establish a competitive and sustainable investment climate while combining promotional strategies to make Maharashtra one of the world's most sought-after investment destinations.
| Nature of exemption | Extent of exemption |
|---|---|
| Stamp duty exemption for the following transactions to new units & expansions of existing units for articles hypothecation, pawn, pledge, deposit of title deeds, conveyance, charge on mortgage property, lease, mortgage deed and security bond on mortgage deed | Units set-up in areas other than Zone I areas of the state - 100% exemption. |
| In case of Units in Zone I (units in Mumbai Metropolitan Region and Pune Metropolitan Region) - 75% exemption | |
| In case of STPI and SEZ Units (irrespective of location) - 100% exemption | |
| Stamp duty exemption on transaction of leave and license agreement & public assignment of lease | 75% exemption subject to conditions and following procedures |
| Stamp duty exemption on transaction of leave and license agreement & public assignment of lease |
| Nature of exemption | Extent of exemption | Period |
|---|---|---|
| Exemption from payment of Electricity Duty for New IT/ ITES units registered with the Directorate of Industries for units in public or private IT Parks | 100% exemption from the date of commencement of the unit | 10 years for the units set-up in Zone 1 |
| Exemption from payment of Electricity Duty for New IT/ ITES units registered with the Directorate of Industries other than above | 100% exemption from the date of commencement of the unit | 15 years for the units set-up in Zone 1 |
| Exemption from payment of Electricity Duty for New & existing IT/ ITES units registered with the SEZ and STPI | 100% exemption from the date of commencement of the unit | Permanent exemption |
Interlink Capital can assist companies in identifying and applying for financial assistance schemes offered under the policy. This may include preparing financial projections, structuring investment proposals, and ensuring compliance with regulatory guidelines to maximize the chances of securing funding.
Interlink Capital can provide expert guidance on understanding tax incentives and exemptions provided under the policy, assisting companies in optimizing their tax planning strategies, filing applications, and complying with statutory requirements to avail maximum benefits.
Yes, Interlink Capital can provide full assistance in navigating regulatory processes, interpreting policy guidelines, ensuring compliance with legal and regulatory standards, and addressing any problems or concerns with regulatory compliance in the IT-ITES industry.
Incentives may include financial assistance, tax exemptions or rebates, infrastructure support, access to incubation centers, skill development initiatives, and other forms of support to facilitate business growth and innovation.