'Expect exemption of angel tax in this budget'

By Parimal Shah,

"The GDP growth for the last quarter of the fiscal year 2018-2019 was estimated at 5.8%, which is the lowest it has been in the last five financial years. While the increase of exemption for angel tax to Rs 25 crore capital in the Interim Budget earlier this year was a welcome move, we expect an angel tax holiday in this budget. This is important considering that a lot of the disruptive innovations and job creation comes from the startup ecosystem, which is the need of the hour since unemployment is at a four-decade high of 6.1%. We also want the government to provide higher tax exemptions for small businesses, ease the regulatory norms and come up with a single-window clearance to ease the compliance process which will encourage entrepreneurship and promote India as a start-up hub in alignment with the Startup India initiative by the Government of India"

The author is President of International Operations at MK Jokai Group.