Budget 2020: Govt relax tax on EdTech startups

Budget 2020: Govt relax tax on EdTech startups

Shobhit Bhatnagar, CEO & Co-Founder, Gradeup
 
"Our Education sector plays an important role in empowering our youth. The EdTech industry is a key component of our education sector. Therefore, the government should offer tax benefits to EdTech startups in the form of exemptions.  The issue of angel tax has still not been properly resolved. As a result investors are reluctant to invest heavily in promising startups because if they do decide to invest heavily then they end up paying a significant tax on it. Therefore, investors require clarity on this front so they can start to invest freely"
 
Zishaan Hayath, CEO & Co-Founder, Toppr
 
"Fundamentally, an overhaul in the education system is required. At the moment, many of our graduates are ill-equipped for the job market. Investing in higher education will be a priority for this budget, particularly since the presiding economic conditions will make potential students hesitant to study further, as they’d prefer to secure jobs instead. Efforts need to be made to help students upskill."