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Budget Expectations 2016: Online Service Tax Relief, GST, IPO Policy support & more

Bhavin Turakhia

  India's finance minister Arun Jaitley will present his second full-year budget on February 29. We ask India's digital biz companies what they expect from the current budget: On easing taxes NASSCOM: For certainty in tax regime, a clear roadmap for rationalization of corporate tax rate to 25%, abolishing MAT or rationalizing the rate to 1/3rd the corporate tax rate and associated road map for utilizing MAT credit, rationalization of education cess and surcharge to bring down effective corporate tax rate should be made available. [caption id="attachment_147949" align="alignright" width="150"] Sujayath Ali[/caption] Sujayath Ali, Voonik: Even though a 3 year income tax holiday is given to new startups, the issue of service tax is not addressed yet. I hope in the new budget some laddering like that of income tax slabs is given to startups. This will help us in being able to invest a part of our revenues to business, reduce our dependence on VC funds; and once we reach a certain stature, we can definitely pay service tax at par with other listed companies. Ankita Tandon, CouponDunia: A sure way to help early-stage startups pick up growth would be to increase existing tax exemptions - currently a service tax exemption exists for commissions earned up to Rs 10 lakh a year, this exemption should be extended to commissions earned up to Rs 25 lakh. Sudarshan Purohit, Zenify: 100% tax holidays on direct (corporate, MAT), indirect tax, surcharge tax for the first 3 years. Brijesh Agrawal, Tolexo: Revamping service tax and…

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