Union Budget 2022: Startups receive one year extension on tax incentive

New Delhi, Feb 1 (KNN) The tax incentive provided to eligible startups has been extended upto 31st March, 2023. 

This decision comes in view of the increasing contribution of startups to the Indian economy as a key economic driver and how they have been affected due to the pandemic.

Count of startups have impressively gone up as India is home to 81 unicorns with a total valuation of USD 247 billion. 

The eligibility is for startups established before 31st March, 2022 and have been availing tax incentive for three consecutive years out of ten years from incorporation.