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Ravi pardhi welcomes budget 2020

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Neeraj Sisaudia, New delhi 

“The Union Budget 2020 has certainly brought a lot to cheer for start-ups and addressed some key pain points. Important among them was the 100 % deduction of profits for 3 consecutive assessment years and extending the period of eligibility for deduction to 10 years for start-ups. This will allow them to reinvest the money back into the business and help it grow. Second, was the announcement related to easing of tax burden on employees by deferring the tax payment on ESOP’s by five years or till they leave the company or when they sell, whichever is earliest. This will alleviate the cash flow problems of employees that arises while funding the tax at the time of exercising ESOP’s and help startups incentivise good talent. The third encouraging announcement was the setting up of an investment clearance and advisory cell and an online portal to facilitate faster clearances for start-ups at a state and central level. This is will reduce clearance time both for investment and routine clearances significantly, and also help start-ups navigate the complicated process of fundraising through crucial advisory support.”

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