The budget is less than a week away, and Startup Street takes stock of what the sector is hoping for from the Finance Minister.
Some of the key demands across the startup community are around the removal of double taxation of ESOPs, extension of ESOP tax deferral as well as 3-year tax holiday to all DPIIT-registered startups.
Startups also hope for exemption of DPIIT-registered startups from Minimum Alternate Tax (MAT), reduction of 1 percent TDS on all e-commerce transactions, harmonising of tax rate for resident investors on unlisted shares to 10 percent on par with non-resident investors, and unlocking of domestic pools of capital through the likes of provident funds and pension funds for startup funding.
As startups in India gear up to go public, there are also calls for clear guidelines for direct foreign listing, as well as relaxing the minimum promoter contribution for listing on the main board in India.
To talk about the Budget wishlist, Startup Street spoke to Siddarth Pai, founding partner of 3One4 Capital, co-chair of regulatory affairs at IVCA and Rameesh Kailasam, CEO of IndiaTech.Org.
Startup Street also spoke to Vivek Gupta, co-founder of Licious and Aditya Vuchi MD & CEO of Doosra to know more about their businesses.Watch video for more.