Kunal Bahl wants FM Sitharaman to give tax benefits to ESOPs, says it will be a game-changer
Snapdeal CEO's two ideas will make startup and angel ecosystem healthy.
By ET Online and Agencies |
BCCL
Kunal Bahl's request from FM Nirmala Sitharaman is two-fold.
NEW DELHI: Last month, Finance Minister Nirmala Sitharaman reached out to experts from the startup, digital economy and fintech community asking suggestions for the forthcoming UnionBudget 2020-21.
Kunal Bahl, co-founder and CEO of Snapdeal, has a few ideas for the FM's second Budget that will make the startup and angel ecosystem healthy. His request from the FM is two-fold which he thinks will be a game-changer.
In a Twitter post, the 36-year-old entrepreneur asked Sitharaman to give tax benefits to employee stock ownership plan (ESOPs) and unlisted equities. His tweet read, "ESOPs should be taxed at the point of liquidity, not exercise... Sale of unlisted equities should be taxed at the same rates as listed equities."
If there are 2 asks from the startup & angel ecosystem from the budget, these would be: 1. ESOPs should be taxed a… https://t.co/Bi6gRf8qFb
According to a PTI report released last month, industry sources revealed that the government is expected to provide tax incentives to start-ups in the forthcoming budget to support the growth of budding entrepreneurs.
The recommendations include extension of tax incentives to incubators supported under Atal Innovation Mission; reduction in GST (Goods and Services Tax) rates on AIF (alternate investment fund) management fees; and tax benefits on ESOPs.
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The PM Narendra Modi-led government launched the Startup India initiative in 2016 to promote a robust startup ecosystem in the country. With this scheme, the government aims at fostering entrepreneurship and promoting innovation by creating an ecosystem that is conducive to growth of budding entrepreneurs.
Modi, PeeCee, Kunal Bahl: Here Are LinkedIn India's Most-Viewed Profiles
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Success means different things to different people. LinkedIn, the world's leading professional social media platform announces this year's most-viewed professionals on LinkedIn in India.
This year (2017-18) is the fifth edition for India. From Narendra Modi to Priyanka Chopra, all of them are examples of members who invest in their own professional brand and continue to inspire the community around them.
They have not only had exciting career journeys but participate in meaningful dialogue, offer perspectives and drive conversations across many of the 50 million plus members in India. Here's a look at all those who are on the coveted list:
Image: From left to right, Narendra Modi, Priyanka Chopra and Kunal Bahl.
Success means different things to different people. LinkedIn, the world's leading professional social media platform announces this year's most-viewed professionals on LinkedIn in India. This year (2..
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Prime Minister of India
The man needs no introduction. Narendra Modi arrives as a ray of hope in the lives of a billion Indians. His laser focus on development and proven ability to deliver results have made him one of India’s most popular leaders. He's the politician who is an inspiration to millennials.
Prime Minister of IndiaThe man needs no introduction. Narendra Modi arrives as a ray of hope in the lives of a billion Indians. His laser focus on development and proven ability to deliver results ha..
Priyanka Chopra has way too many feathers in her cap. One of India's highest-paid and most popular celebrities, Chopra has received numerous awards, including a National Film Award and Filmfare Awards in five categories. In 2016, she was honoured with the Padma Shri, the fourth highest civilian award. In 2016, TIME magazine named her one of the 100 most influential people in the world and Forbes magazine listed her among the World's 100 Most Powerful Women in 2017. She has recently made her relationship official with American singer and actor Nick Jonas in a traditional 'roka' ceremony in Mumbai in the presence of their respective families.
Actor, Entrepreneur, Philanthropist...Dreamer, Do-er, AchieverPriyanka Chopra has way too many feathers in her cap. One of India's highest-paid and most popular celebrities, Chopra has received numer..
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CMD at Biocon Limited
A pioneer in the biotechnology industry in India and teh founder of the country's leading biotechnology enterprise Biocon. Named among TIME magazine’s 100 most-influential people in the world, Shaw is recognised as a thought leader who has made India proud by building a globally recognised biopharmaceutical enterprise. Click here to view her complete LinkedIn profile.
CMD at Biocon LimitedA pioneer in the biotechnology industry in India and teh founder of the country's leading biotechnology enterprise Biocon. Named among TIME magazine’s 100 most-influential people..
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Managing Director at Kalaari
A successful serial entrepreneur in the Silicon Valley, Kola is an idea lover and trend spotter. She became part of the startup ecosystem when the entrepreneurial landscape was still in the nascent stage. She has an unique ability to spot entrepreneurs and disruptive ideas that can become large and successful businesses.
Managing Director at KalaariA successful serial entrepreneur in the Silicon Valley, Kola is an idea lover and trend spotter. She became part of the startup ecosystem when the entrepreneurial landscap..
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Founder at Kailash Satyarthi Children's Foundation, Nobel Peace Laureate 2014
Following into the footsteps of Mahatma Gandhi, activist Kailash Satyarthi has waged a peaceful struggle to stop children from being exploited as labour instead of attending school. He has also contributed to the development of international conventions on the rights of children.
Founder at Kailash Satyarthi Children's Foundation, Nobel Peace Laureate 2014Following into the footsteps of Mahatma Gandhi, activist Kailash Satyarthi has waged a peaceful struggle to stop children ..
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Business Leader, Philanthropist, Writer
Ravi Venkatesan who was the former Chairman of Bank of Baroda and is the author of bestseller 'Conquering the Chaos - Win In India, Win Everywhere'. He is also a philanthropist.
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CEO and Co-Founder, Snapdeal
Kunal Bahl had started out with a string of failures but that did not deter him from setting up his most-celebrated venture, Snapdeal. He had first founded a detergent company and then an offline coupon startup in 2008. Bahl believes that failures help build character.
CEO and Co-Founder, SnapdealKunal Bahl had started out with a string of failures but that did not deter him from setting up his most-celebrated venture, Snapdeal. He had first founded a detergent com..
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Founder & CEO at YourStory Media
Shradha Sharma aka 'the biggest storyteller of India's digital space' is the founder, CEO and Chief Editor of YourStory, a media technology platform for entrepreneurs. Sharma has numerous awards and honours to her credit. She has a bachelor's and master's degree in history from St. Stephen's College, Delhi and an MBA from MICA Ahmedabad.
Founder & CEO at YourStory MediaShradha Sharma aka 'the biggest storyteller of India's digital space' is the founder, CEO and Chief Editor of YourStory, a media technology platform for entrepreneurs...
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Co Founder UpGrad - Building Careers of Tomorrow
An influencer and a philanthropist who pioneered Cable TV, built a successful media conglomerate (UTV) and is currently spearheading and online education company.
Screwvala founded UTV and over the period grew it into a media conglomerate spanning a leading movie studio, a Games Studio and creative content company that went public and listed on stock exchanges in 2005 and into which Disney gradually took a substantial stake until he divested the whole company to them in 2012.
Co Founder UpGrad - Building Careers of TomorrowAn influencer and a philanthropist who pioneered Cable TV, built a successful media conglomerate (UTV) and is currently spearheading and online educati..
