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This is how the budget has brought a lot for the startups and in the coming years more additions, as well as editions, can be seen to improve the ecosystem
#Budget2019: Indian Start-ups Can Rejoice as Gov Announces Relief from Angel Tax & Income Tax Scrutiny
The Finance Minister, in the Budget 2019 has talked about start-ups at length and has rolled out some elaborate plans for the ecosystem
#Budget2019: What Makes Angel Tax Every Start-upreneur's Nightmare & Why The Indian Start-up Ecosystem is Rooting for its Complete Abolition
The tax which was introduced in 2012 budget is now seeing a slow death with absolutely no takers
India is presently considered the third largest hub for having a large number of startups. Thus, tax liability massively impacts the entire startup ecosystem
Suresh Prabhu, the Minister for Commerce and Industry, recently announced this relaxation broadening the definition of a startup by extending the tenure of existence from 7 to 10 years
The definition of Startups has been revised and the process of exemptions under Section 56 (2) (viib) of Income Tax Act is simplified, says Suresh Prabhu
Sources reveal genuine tax liabilities are being pushed under the guise of angel tax by some startup players. At a time when the India government is attempting to create a startup-friendly ecosystem, how will it address woes of genuine startups? How will India become #1?