The federal budget filed in Parliament today announced a huge tax exemption for start-up companies.
Startups can now get full exemption from the capital line. Similarly, you can exclude three years from income tax. You can also exclude from the Fair Market Value Line.
In the meantime, there are some more concessions to the federal budget.
Start-up companies offer certain benefits to reduce the burden of tariffs. Accordingly, the tax period is extended to 5 years.
This means they do not have to sell their shares for cash. They can hold their hands for a long time.
Start-up companies with a turnover of Rs 25 crore can make a profit from 7 years to 3 years. Up to Rs 1 crore will be exempted from the transaction companies. Similarly, the current grace period of the exemption has been extended from 7 years to 10 years.
The budget is like this.