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Indian IT Body Seeks Tax Breaks For Start-Ups

by Mary Swire, Tax-News.com, Hong Kong

08 January 2016


The National Association of Software and Services Companies (NASSCOM) has urged the Indian Finance Minister to exempt start-ups from direct and indirect taxes, including the minimum alternate tax.

The recommendation is included in the body's pre-budget submission made to the Finance Ministry on January 6, 2016.

NASSCOM's submission also seeks a capital gains tax exemption for gains derived from investments in start-ups, providing the proceeds are then reinvested into another start-up. It urged the Ministry to harmonize capital gains tax for resident investors with non-resident investors and tax rates for angel investors.

TAGS: compliance | Finance | tax | investment | business | India | energy | commerce | entrepreneurs | budget | audit | e-commerce | venture capital | tax rates | regulation | services

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