Govt proposes time extension of incorporation for eligible startups by five years

NEW DELHI: The government on Saturday proposed to extend the period of incorporation of eligible startups by five years for providing tax incentives, a move aimed at encouraging budding entrepreneurs.

Eligible startups established before April 1, 2030, would get a tax incentive for three consecutive years out of ten years from incorporation.

“We continue to support the Indian startup ecosystem. I propose to extend the period of incorporation by five years to allow the benefit available to startups which are incorporated before April 1, 2030,” Finance Minister Nirmala Sitharaman in her Budget speech said.

Source: PTI News

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