NASSCOM wants entrepreneurs to build upon ideas, seeks tax exemptions for startups
Advertisement
The National Association for Software and Services Companies (NASSCOM ) says direct and indirect taxes hurt startups and the industry body has asked for tax exemptions for startups .
NASSCOM, in pre-budget recommendations, has asked the finance ministry to weed out taxes, including minimum alternative tax, angel tax as these hurt startups.
"Policy regulations like ease of compliance, reliance on self-certification instead of audits, tax exemptions for startups will allow entrepreneurs to devote their time, energy and resources to build upon their innovative ideas," said R Chandrashekhar, president of NASSCOM.
The industry body also wants exemption from capital gain tax on income from sales of startups.
(Image: Thinkstock)
Advertisement
NASSCOM, in pre-budget recommendations, has asked the finance ministry to weed out taxes, including minimum alternative tax, angel tax as these hurt startups.
"Policy regulations like ease of compliance, reliance on self-certification instead of audits, tax exemptions for startups will allow entrepreneurs to devote their time, energy and resources to build upon their innovative ideas," said R Chandrashekhar, president of NASSCOM.
The industry body also wants exemption from capital gain tax on income from sales of startups.
(Image: Thinkstock)
Advertisement
Advertisement
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Indian housing sentiment index soars, Ahmedabad emerges as frontrunner
- 10 Best tourist places to visit in Ladakh in 2024
- Invest in disaster resilience today for safer tomorrow: PM Modi
- Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched
- DRDO develops lightest bulletproof jacket for protection against highest threat level