The parliamentary standing panel on finance has recommended that all investments made by collective investment vehicles into startups be exempted from long-term capital gains tax for at least two years.
It has, however, suggested that once the two year period is over, securities transaction tax may be imposed on them in order to maintain revenue neutrality. The standing committee also has recommended several measures to reduce dependence on the US and China for funding startups.
The panel expressed concern over the fact that Indian unicorns have an exposure of Rs 30,000 crore to the Chinese capital. To discuss the recommendations Startup Street Spoke to Rehan Yar Khan Managing Partner at Orios Venture Partners.
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Watch Startup Street in conversation with Sudhanshu Gupta COO of Paytm First Games who spoke about the company roping in sporting legend Sachin Tendulkar as their brand ambassador. Other than fantasy cricket, Paytm plans on using his brand to help promote other sports including kabaddi, football, and basketball.