- The Union Budget proposes to extend tax holiday for start-ups until March-end next year.
- It also proposes to extend the capital gains exemption for investment in start-ups by another year to encourage funding in the sector.
- The Budget also proposes to incentivise one-person companies (OPCs) by allowing them to grow without any restrictions on paid-up capital and turnover.
- OPCs will also be allowed to change the ‘type’ of the company at any time.
- Also, the residency limit has been brought down to 120 days from 182 days, making investments in India more convenient to NRIs.
https://www.thehindu.com/todays-paper/tp-miscellaneous/tp-others/start-ups-to-get-tax-holiday-till-march-2022/article33722669.ece
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