 "tax, taxes")
A Parliamentary panel has “strongly recommended” abolition of long-term capital gains (LTCG) tax for investment in start-ups, besides other tax incentives, to drive a sharp post-pandemic revival. This should apply to investments made through collective investment vehicles such as angel funds, alternate investment funds and investment LLPs, it said.
The Parliamentary Standing Committee on Finance, headed by former minister of state for finance Jayant Sinha, said a strong start-up ecosystem can propel investment, jobs, and demand creation, and for that, substantial growth capital is required. It also pitched for self-reliance in capital funding of unicorns to cut dependence on funding from
