2015-03-02

Positive thrust on tech startups in Budget 2015

The government continues its focus on leveraging technology for development and governance goals.

Positive thrust on tech startups in Budget 2015

NASSCOM has welcomed the Union Budget 2015 terming it as `comprehensive’ and appreciated the government’s focus on startups and technology.

R. Chandrashekhar, President, NASSCOM, said, “Our wish list for Budget 2015 included three key priorities – policy bottlenecks including ease of business, procurement challenges and nurturing startups. Budget 2015 does cover some part of these priorities. However, some concerns remain and we would urge the government to address these issues on priority,”

The government continues its focus on leveraging technology for development and governance goals. Announcement of electronic Trade Receivables Discounting System (TReDS) for SMEs, cashless economy, expanding direct benefits through JAM, implementation of GST from 1.4.2016 etc are some welcome announcements.

Amidst the positive thrust on Technology and Startups Union Budget 2015-16, concerns in some of the areas still persist which include: Public Procurement Dispute Resolution Bill to ease procurement challenges, nurture and incubate technology startups, ease of doing business including e-filings, bankruptcy laws, Lower rate of income tax on royalty and fees for technical services reduced from 25 per cent to 10 per cent, Section 56 for Angel tax, dual levy of taxes on products, Service Tax refunds issues, MAT, Clarity on transfer pricing, measures for increasing access to government procurement for product companies and SMEs, dual Levies on software continues, and high rate of TDS (10 per cent) on all software transactions including startups constrain cash flows not provided, fair market valuation applicable to angel investments taxes capital receipts in startups, etc.

Related opportunities
  • The future of electric mobility in India is here, Odysse..
    Locations looking for expansion Maharashtra
    Establishment year 2020
    Franchising Launch Date 2023
    Investment size Rs. 20lakh - 30lakh
    Space required 1100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Charging Stations
    Acemic Automation Private Limited was established with the goal of..
    Locations looking for expansion gujrat
    Establishment year 2021
    Franchising Launch Date 2023
    Investment size Rs. 10lakh - 20lakh
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad gujrat
  • With over 2 decades of being pride and backbone of..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2023
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Hospitals
    OPEN YOUR DOOR TO BETTER CARE WITH BRANDED CHAIN OF..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2023
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 12000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Haveli Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads