In a recent article published on News18 India,Rajesh Sivaswamy provided valuable insights into the Interim Budget 2024 and its implications for startups and pension funds. Titled "Interim Budget 2024: Know Tax Benefits to Startups, Pension Funds," the article highlights the government's proposed tax benefits and incentives, shedding light on the positive impact it is expected to have on the development and creativity within the Indian startup ecosystem.
Rajesh said, “The government’s proposed tax benefits and incentives for startups are likely to have a positive impact on the development and creativity of the Indian startup ecosystem, particularly in the domains of healthcare technology, online commerce, transportation, and communication.”
He added that exemptions from Section 56 of the Income Tax Act for investments above fair market value made by sovereign wealth funds and pension funds in startups will definitely boost investor confidence in the Indian market at a time when India remains one of the few bright spots for foreign direct investment in the world.
Link to Coverage: https://www.news18.com/business/interim-budget-2024-know-tax-benefits-to-startups-pension-funds-check-what-experts-say-8764589.html
