Union Finance Minister Arun Jaitley presents his third Budget on Wednesday, February 1.
1.10 p.m.
Our Analysis
- Pallavi Singhal
partner - direct tax, PricewaterhouseCoopers
Boost to Start-ups : The 3 year tax holiday available to start-ups has been extended from the existing period of first 5 years of operation to 7 years. This is a welcome move as the initial gestation period of start-ups is generally long. Also, the removal of the embargo on carry forward of losses in event of change in share holding beyond 51% of promoter share, helps meet the constant funding requirements of a start-up, which triggers constant change in holding patterns. These announcements will cheer up the start-up ecosystem which has seen a challenging year.
