Government begins review of tax, other norms for startups

    The government is reviewing the regime for startups in a bid to make it more attractive for entrepreneurs, especially on the tax front. Sources told TOI that discussions have been initiated across ministries over the last few days, ahead of Prime Minister Narendra Modi’s meeting with several startups and their CEOs during the Global Entrepreneurship Summit in Hyderabad this week. While PM had announced a policy almost two years ago, several elements of the package need to be recalibrated due to feedback received from industry. Startups are a major thrust area for the Modi administration as they are not just seen to create jobs but also encourage entrepreneurship. Sources said that a large part of the agenda for the government includes tweaks in the taxation policy. Read More...

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