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Home Gadgets Startups get tax breaks for one more year in Budget 2021

Startups get tax breaks for one more year in Budget 2021


Mumbai: Finance Minister Nirmala Sitharaman has introduced tax incentives for startups, together with an extension in capital positive factors exemption by one yr, in Union Finances 2021-22. The eligibility for claiming tax vacation for startups will even be prolonged by yet another yr to March 2022, the finance minister mentioned.

The federal government additionally proposed to incentivise incorporation of one-person corporations (OPCs), a transfer which can profit startups and innovators. Sitharaman mentioned incorporation of OPCs shall be incentivised by permitting such corporations “to develop with out restriction on paid-up capital and turnover, permitting conversion into some other sort of firm at any time, lowering residency restrict for an Indian citizen to arrange an OPC from 182 days to 120 days, and permit additionally non-resident Indians to include OPCs in India”.



The federal government additionally introduced a Rs 1,500-crore scheme to spur digital funds.

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