Post - Budget Reaction - UrbanClap, Carzonrent, Myles
Mr. Abhiraj Bhal(Co-founder, UrbanClap) - "The new policy proposed in the budget, allowing startups a 3 year tax holiday in the first 7 years of their existence is a welcome change. However, this policy could have been more impactful had it included startups incorporated prior to 31 Mar'16, and extended the period when the tax holiday can be availed from 7 to 10 years. Equally importantly, while the present Ministry and Department are very committed to their work, to avoid future mis-use of this policy, clear guidelines and definition of a startup should be laid out, and any subjectivity in the granting of these tax holidays avoided."
Mr. Rajiv Vij(CEO & MD, Carzonrent.com) - "The Union Budget presented brings out the progressive outlook of the government for Businesses as well as individuals. The investments proposed in the area of skill developments are a welcome step. The investments in building National Highways is a welcome step for the car rental industry. The impact of the demonetization drive is visible with progressive steps taken for an inclusive and cashless economic future of India."
Ms. Sakshi Vij (Founder & CEO, Mylescars.com) - "The Union Budget presented is a welcome change. The governments focus on inclusion and encouragement of the MSME sector along with Startups is visible. The increase in the Profit linked deductions period to 3 out of 7 years is a welcome change for young startups like us. The exemptions proposed for the Indian entities with Foreign placed portfolio investments is also a step in the right direction."