As the budget session of parliment is getting nearer some leaks about budget are making the businesses more curious. Commerce and Industry Minister Nirmala Sitharaman on Monday hinted that the government was likely to come out with incentives including tax-related ones for start-ups in the upcoming Union Budget.
Her ministry, she said, had been pushing for raising the tax holiday for start-ups to seven years from the current three years. “That suggestion we have given to the Finance Ministry. We have to wait. Let’s see what this Budget is going to offer,” she said.
Ms. Sitharaman was participating in an event to mark the first anniversary of the Start-Up India initiative. A suggestion to exempt start-ups from the minimum alternate tax had also been forwarded to the Finance Ministry, she said, adding that the government was looking to do away with the legislative hurdles faced by start-ups.