Turnover limit for startups increases from Rs 25 crores to 100 crores

Finance Minister Nirmala Sitharaman proposed to increase the turnover limit for startups from Rs 25 crores to 100 crores.

New Delhi: Finance Minister Nirmala Sitharaman said that start-ups are the engines of growth.

She also proposed to increase the turnover limit for startups from Rs 25 crores to 100 crores.

• To boost startups, the tax burden on employees due to tax on Employee Stock Options to be deferred by five years or till they leave the company or when they sell, whichever is earliest says FM
• The turnover threshold for the audit of MSMEs to be increased from 1 crore to 5 crore rupees, to those businesses which carry out less than 5% of their business in cash: FM