Union Budget: ICAI expects rationalisation of taxation for startups

The Institute of Chartered Accountants of India (ICAI) on Thursday said it hopes the Union Budget will have measures to rationalise taxation for startups as well as simplify compliance requirements for professionals. The Budget for 2025-26 will be presented by Finance Minister Nirmala Sitharaman in the Parliament on February 1.

"We hope for measures that simplify compliance for professionals, rationalise taxation for startups, and incentivise ESG (Environmental, Social and Governance)-led initiatives through tax benefits.

"Aligning tax provisions with global benchmarks and supporting innovation will accelerate India's journey to becoming a global economic leader," ICAI said in a release.


The institute also said it is looking forward to reforms that can empower the education and promote ease of doing business.

"With greater budgetary support for education, particularly skill development and girl child education, we can further strengthen these efforts, fostering a generation that is both empowered and future ready," the release said.