Budget 2019 to ease regulatory, tax compliance burden on startups, says Nasscom

Union Budget 2019 India: IT industry body Nasscom has said the slew of incentives announced for startups in the Budget will help facilitate funding and reduce the regulatory and tax compliance burden on these fledgling enterprises. As part of the Budget, the government has proposed a host of incentives, including a special arrangement for resolution of pending assessments of income tax cases, with a view to encouraging startups.

“Doing away with the scrutiny of valuation of documentation on angel tax is an excellent step that will help facilitate funding… With this Budget, startups can expect lesser regulatory requirement, besides reducing their tax compliance burden,” Nasscom Executive Council member Kunal Bahl said. He said it will also encourage newer startups, especially from tier II and III areas, and in parallel infuse considerable foreign investments in India.