Nirmala Sitharaman recommends raising tax holiday for start-ups

Nirmala Sitharaman said that her ministry has recommended to finance ministry to raise tax holiday for start-ups to 7 years from 3 years.

Zee Media Bureau

New Delhi: Commerce Minister Nirmala Sitharaman on Monday said that her ministry has recommended to finance ministry to raise tax holiday for start-ups to 7 years from 3 years.

Several startups have pitched for increasing the tax holiday period from the current three years as it would provide certainty on taxation matter.

She said the government has announced the action plan for startups and is continuously interacting with them.

For 2016-17, the allocation of Rs 1,100 crore has already been made and 35 new incubators have been established, she said.

With PTI Inputs