January 16, 2017 5:59 PM

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Start-ups may get additional tax benefits in upcoming budget: Nirmala Sitharaman

Commerce and Industry Minister Nirmala Sitharaman today indicated that start-ups may get additional tax benefits in the forthcoming budget. Mrs Sitharaman was speaking at the first anniversary function of Start Up India in New Delhi today. <br/><br/>She said the ministry has already suggested to the finance ministry to consider raising tax holiday for start-ups to 7 years from the current 3 years to encourage budding entrepreneurs.<br/><br/> The Minister said, tax and tax-related matters always come from start-ups as it makes tangible difference to a start-up.<br/><br/>The Minister said all the suggestions of the entrepreneurs have been compiled by the ministry and given to the finance ministry. Further she said the government is committed to removing legislative hurdles, if any, being faced by them. The Minister said, Centre is also involving local authorities, including states, to help the budding entrepreneurs in terms of local taxes among others.

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