Business

Centre may provide tax incentives for startups in Budget

The Government of India is expected to provide tax incentives to startups in the forthcoming budget to support the growth of budding entrepreneurs, sources said.

The Department for Promotion of Industry and Internal Trade (DPIIT) has suggested several measures to the finance ministry for startups in the budget.

The recommendations include an extension of tax incentives to incubators supported under Atal Innovation Mission, reduction in GST (Goods and Services Tax) rates on AIF (alternate investment fund) management fees, and tax benefits on ESOPs, they said.

Startups need a talented workforce, and ESOPs are one of the best options to attract skilled people as giving just high cash payout add to the burden on cash-starved enterprises, industry players said.

Tiger Global-backed, tea cafe chain Chaayos Founder Nitin Saluja said that there should be less tax on ESOPs.”It should attract as little tax as possible. ESOPs are one of the best options for startups in their early stages,” Saluja said.

Further fees charged by the fund manager of AIF domiciled in India is liable to 18 percent GST as it qualifies as a taxable supply.

Sources said that reduction in GST rates will help India to become an investment hub.

Startup India initiative of the Government aims at fostering entrepreneurship and promoting innovation by creating an ecosystem that is conducive to the growth of budding entrepreneurs.

There are 19 components under the Startup India action plan spanning across areas such as simplification and hand-holding, funding support and incentives, and industry-academia partnership and incubation.

So far, the department has recognised 26,619 startups. Of these, maximum was in the IT services space which was followed by healthcare and life sciences, and education.

Finance Minister Nirmala Sitharaman is likely to present the Budget for 2020-21 fiscal on February 1, 2020, and already did the pre-Budget consultation exercise with various stakeholders including industry bodies, farmer organisations, and economists for reviving consumption and boosting growth.

34 Comments

34 Comments

  1. Pingback: How To Use Wealthy Affiliate 2020

  2. Pingback: كلمات

  3. Pingback: english bulldogs for sale in wi

  4. Pingback: Juul Pods for sale

  5. Pingback: result sgp

  6. Pingback: kalpa pharma testosterone cypionate

  7. Pingback: cvv cc

  8. Pingback: fish Tank Heater yourfishguide.com

  9. Pingback: buy valium online overnight without prescription cheap

  10. Pingback: danh de online

  11. Pingback: Buy fake ids

  12. Pingback: pinewswire.net

  13. Pingback: facebook old design

  14. Pingback: immediate edge

  15. Pingback: Online head shop

  16. Pingback: https://pendaftaran.sscnbkn.win/

  17. Pingback: Devops Services

  18. Pingback: replica watches

  19. Pingback: Software testing services company

  20. Pingback: wigs for women

  21. Pingback: 꽃계열 사이트

  22. Pingback: kocioł parowy

  23. Pingback: arvest bank

  24. Pingback: 킹스포커

  25. Pingback: RPA in Banking

  26. Pingback: hack instagram account

  27. Pingback: Swiss Vs Ja http://fakerolex.is/ rolex datejust replica Uhren

  28. Pingback: Six hours in the dark: What really happened when Facebook Instagram and WhatsApp went down

  29. Pingback: บาคาร่า1688

  30. Pingback: บาคาร่า ขั้นต่ำ 5 บาท

  31. Pingback: craspouilleries.com

  32. Pingback: cheap cvv for carding

  33. Pingback: MILF chat

  34. Pingback: microdosing mushrooms schedule

Leave a Reply

Your email address will not be published.

two × 1 =

News is information about current events. News is provided through many different media: word of mouth, printing, postal systems, broadcasting, electronic communication, and also on the testimony of observers and witnesses to events. It is also used as a platform to manufacture opinion for the population.

Contact Info

Address:
D 601  Riddhi Sidhi CHSL
Unnant Nagar Road 2
Kamaraj Nagar, Goreagaon West
Mumbai 400062 .

Email Id: [email protected]

West Bengal

Eastern Regional Office
Indsamachar Digital Media
Siddha Gibson 1,
Gibson Lane, 1st floor, R. No. 114,
Kolkata – 700069.
West Bengal.

Office Address

251 B-Wing,First Floor,
Orchard Corporate Park, Royal Palms,
Arey Road, Goreagon East,
Mumbai – 400065.

Download Our Mobile App

IndSamachar Android App IndSamachar IOS App
To Top
WhatsApp WhatsApp us