The National Association for Software and Services Companies (NASSCOM, in pre-budget recommendations, has asked the finance ministry to weed out taxes, including minimum alternative tax, angel tax as these hurt startups.
"Policy regulations like ease of compliance, reliance on self-certification instead of audits, tax exemptions for startups will allow entrepreneurs to devote their time, energy and resources to build upon their innovative ideas," said R Chandrashekhar, president of NASSCOM.
The industry body also wants exemption from capital gain tax on income from sales of startups.
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