Budget to ease compliance burden on startups, help attract funding: Nasscom

In her Budget speech, Sitharaman had stated that startups and their investors who file requisite declarations and provide information in their returns will not be subjected to any kind of scrutiny

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Budget 2019: 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...read more

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