The Budget 2015 has been announced and while it is a good mix of reforms (mixed with forward-looking statements), it is a big miss for startups.
Key takeaways:
– Good for foreign investment / fund as tax pass through for AIF Funds will encourage more funds.
– Big miss for startups! No resolution on Sec 56 which taxes startups on investments they receive from angels if it is above fair market value.
– Bankruptcy law reform will greatly help (specially for startups).
– 1000 crore for incubation is good but a lot will depend on its deployment. [Commentary from Saurabh Srivastava, co-founder, IAN]
Adds Ashish Sinha: There is no word on the last year’s 10,000 crores that was allotted for startups?
