What does the Union Budget 2017 mean for startups?
In the Union Budget presented on Wednesday, Finance Minister Arun Jaitley increased the period of profit-linked deductions available to the Department of Industrial Policy and Promotion (DIPP)-recognised startups to seven years from the current five years. Further, the startups were allowed to carry forward their Minimum Alternative Tax (MAT) to 15 years from the present period of 10 years.