Friendly Tax Regime for Startups to be announced: Government of India will announce friendly tax regime for the Startups in India. This policy will be announced in the budget session next month. This will be encouraging for the new entrepreneurs in India. Beside encouraging established startups this will boost the confidence in new startups. Recognising the need to encourage startups Government has added a fund in the previous years budget. This has been announced by Finance Miniter of India Arun Jaitley. Along with this the Government will also launch Stand Up India scheme under which Bank branches will lend to entrepreneurs belonging to SC/ STs and Women.

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Friendly Tax Regime Policy:

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Friendly Tax regime for Startups to be announced by Government in Budget

“We have already worked upon an entrepreneur-friendly taxation regime. There are some steps, which can be taken up by notifications, which would be taken forthwith. Others require legislative provisions, which can only come as part of the Finance Bill when Budget is presented in order to create a friendly taxation regime for startups,” he said at the Start Up India conference today. He also said that Stand Up India Scheme which was announced by Prime Minister Narendra Modi on Independence Day will be launched separately.

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He then explained about the Stand Up India Scheme which encourages SC/ STs and Women entrepreneurs to come up with their ideas. Each bank branch whether public or private would adopt one SC/ST  category and one in women category and will fund them for their startup establishment. This will create 3,00,000 new entrepreneurs in the next coming two years, he wished. Providing schemes like this will encourage new candidates to come up with their ideas and help develop the country.

Stay tuned to GalaxyReporter for more updates…

 

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