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Tax burden of start-up employees eased

Source: PTI  -  Edited By: Nandita Malik
February 01, 2020 15:31 IST

Under the Start-Up India campaign, recognition has been accorded to 27,000 new start-ups in the country.

Start-up

Illustration: Dominic Xavier/Rediff.com

Finance Minister Nirmala Sitharaman announced on Saturday that as part of efforts to boost star-tups, tax burden on employees due to tax on employee stock options would be deferred by five years or till they leave the company or when they sell it.

Referring to start-ups in her Budget speech, the finance minister said that several measures were planned to increase the base for the knowledge-driven enterprises.

 

“To boost start-ups, tax burden on employees due to tax on Employee Stock Options to be deferred by five years or till they leave the company or when they sell, whichever is earliest," she said.

India is home to the world's third largest start-up ecosystem.

Under the Start-Up India campaign, recognition has been accorded to 27,000 new start-ups in the country.

Source: PTI  -  Edited By: Nandita Malik© Copyright 2020 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
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