Union budget 2016 reaction : Pluss

Pluss is an on-demand medicine, healthcare and wellness products delivery app which standardizes your experience irrespective of your location and the store from where your medicines come.

Mr Atit Jain CEO & Co-founder, Pluss says: "I think the fact that 'ease of doing business' is amongst one of the nine focus areas for this budget is a sign that the government is trying to show that they are serious about implementing what they committed on the Startup India Conference, though nothing concrete is mentioned about speedy registration of the company. I was personally hoping that capital gains tax exemption on investment raised by selling of a property for funding a startup would be implemented in this budget. But there is no mention of it by the honorable Finance Minister in the budget.

Tax Holiday for three years for a startup according to me doesn't make a lot of sense as at least 99% of the startups are loss making in the first 1000 days of founding.

This budget will not change the lives of existing startups in any way according to me."

Source : Equity Bulls

Keywords