India: Budget 2017 provides startups with tax holiday for first seven years of existence

India: Budget 2017 provides startups with tax holiday for first seven years of existence

To avail the concession, startups have to present their application to the DIPP, which will then be reviewed by a three-member inter-ministerial panel. Photo: Priyanka Parashar/Mint

Finance minister Arun Jaitley on Wednesday altered the policy on tax concessions for start-ups and said firms incorporated after 31 March 2016 could now avail of a three-year tax holiday in the first seven years of their existence.

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