Finance Minister Arun Jaitley is scheduled to present the NDA government’s second Union Budget on February 28, 2015. Here are the budget wishlists of digital companies across sectors. On Tax Relief, Online Service Tax and MAT: Rishi Gupta, MD and CEO, FINO PayTech: “Incentives and tax relief support to financial inclusion enabling entities will help companies innovate and develop a robust technology-based banking infrastructure across the country. They are keys to making digital India a reality.” Sitakanta Ray, co-founder, MySmartPrice: “E-commerce will grow if the ministry takes cognizance of IAMAI’s recent submission and implements affirmative actions pertaining to FDI. Also, a relaxation of corporate tax for startups and provisions to increase venture capital investments from abroad will help young startups grow.” Suresh Sharma, Founder & Director, iSpyPrice.com: “Abolishing service tax on online advertisements to motivate internet-based publishing companies to create valuable content and applications for websites will be helpful. It would also be great to see proper clarifications on service tax levied on advertising income that is earned by Indian publishers in foreign currency along with Minimum Alternate Tax abrogation from the e-commerce landscape.” Saahil Goel, CEO & Co-Founder, KartRocket.com: "An unlisted Pvt. Co. has to pay MAT @ 18.5% if the company is making a substantial amount of income under Information Technology Act, even though the company is in loss as per the books. This money could have been utilized towards the growth of the company or for financing its working capital requirement. The government can make provisions where the…
