Concessional corporate tax rate of 15% for eligible ‘start-ups’ has not been extended beyond March 31, 2024

“Non-extension of the scheme is contrary to the make in India initiative that Government is promoting at all forums. However, considering it is an interim budget and main budget is likely to be presented once the new Government is elected. Further, where this scheme is given an extended lifeline in the main budget, the applicability of it from April, 2024 can make this gap go vanished and companies that are expected to have set up in this interim period will be at par for availing such benefit.”

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