We welcome new relaxations provided in terms of carrying forward the losses: Roposo

India Infoline News Service | Mumbai | February 01, 2017 18:50 IST

The government's efforts to digitise India and promote digital payments should go a long way in boosting the country's economic growth, Mayank Bhangadia said.

The government's move to enable startups, incorporated after March 31, 2016, avail of a three-year tax holiday in their first seven years is quite commendable. We also welcome the new relaxations provided in terms of carrying forward the losses. The government's efforts to digitise India and promote digital payments should go a long way in boosting the country's economic growth.

However, the 5% corporate tax reduction is not relevant to most startups that have not yet begun generating as much revenue. Government should now start thinking about how to reduce startups' real cost in the early years. In my opinion, income tax slabs should be made completely flat. Tax rates should not increase with increasing income.

The author is Mayank Bhangadia, CEO and CoFounder, Roposo.
 

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