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“Incentives for startups have emerged as drivers of progress for our economic system over the previous few years,” Sitharaman stated.
On the Union Funds 2022 session, Minister of Finance Nirmala Sitharaman stated that eligible startups established earlier than March 31, 2022, have been offered tax incentive for 3 consequent two years, out of the 10-year interval beginning with incorporation, in view of the coronavirus-induced pandemic. Sitharaman stated, “I suggest to increase the interval of incorporation of the eligible startups by yet another 12 months. That’s as much as March 31, 2023, for offering such tax incentives.” She added, “Incentives for startups have emerged as drivers of progress for our economic system over the previous few years. The nation has seen a manifold improve in profitable startups.”
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