For direct taxes, Budget 2021 has largely maintained status quo

To further support the start-up ecosystem, the tax holiday has been extended by one year by including start-ups incorporated till March 31, 2022 to be eligible for the tax holiday

Owing to deep impact on the Indian economy due to outbreak of Covid-19, the central government announced several schemes and relaxations during 2020 to boost and strengthen the economy. In the backdrop of Covid-19 cases reducing and economic recovery from third quarter, the Union Budget 2021 was presented by the Finance Minister (FM) with expectation to provide impetus to the recovery process and lay the ground for a double-digit growth target. The major focus of the Hon’ble FM has been on building the infrastructure and healthcare sector of the country by substantially increasing the allocation.

As it has always been