The Financial Express | 2 February 2023
The Indian startup ecosystem mostly welcomed the multiple tax breaks and respites introduced in Budget 2023, especially on the relaxation of carrying forward of losses. However, some investors and founders said the Budget did not accommodate tax benefits or relaxations for the private equity and venture capital industry, especially with the government now including NRI investors under the ambit of the angel tax provision.
The Budget extends the date of incorporation for income tax benefits to startups from March 31, 2023, to March 31, 2024.