Startups Tax holiday may extend to 7 years
Extended Startups tax holiday required
Several crtisism raised from experts & stakeholders that three years startups tax holiday would not suffice the purpose of assissting startups since most of the startups would not able to cross even thier break even in first three years hence, not liable to tax although.
On monday, commerce and industry minister Nirmala Sitharaman said "The finance ministry should consider raising tax holiday for startups to seven years from the current three years to encourage budding entrepreneurs".
Sitharaman said lots of inputs from startups have been recieved and "recommendation have gone to the finance ministry for extending the three year tax holiday to seven years". "We shall pursue it and there shall now be lots more interactions with them" she told reporters while briefing on the intiatives taken by her ministry during the last two years.
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