Post Budget Reaction 2023 – Startup/ Entrepreneur/ Working Professional

Quote by Shreya Gupta, CEO & Founding Partner at Four Founders PR, an Advertising & Marketing Firm

“The government has implemented a variety of start-up-friendly policies over the years, and they have all proven to be successful. Currently, India has the third-largest startup ecosystem in the world and is second among middle-income nations in terms of innovation and quality. Finance Minister Nirmala Sitharaman recommended prolonging the period of incorporation for income tax benefits to qualifying start-ups by one more year until March 31, 2024, citing the value of entrepreneurship for the nation’s economic development.

Previously, tax advantages were extended to newly incorporated start-ups through March 2023. She also suggested increasing the period of time that start-ups can carry over losses from changes in shareholding from the current seven years to ten. I believe overall the Finance Minister has done an excellent job in striking a fine balance in being fiscally prudent and growth supportive. Hence, I am looking forward to making the best use of new technological and advantageous opportunities designated by the Union Budget 2023-2024″, says Shreya Gupta, CEO & Founding Partner at Four Founder PR

Quote by Shreya Gupta, Publicist at Four Founders PR

“The new income tax slab rates for 2023-24 are unquestionably beneficial to the middle class. As a salaried taxpayer, my main fear was the possibility of an increase in income tax rates, given the global situation and the continued threat of recession. Furthermore, the leave encashment exemption is likely to be a significant boon, particularly in the corporate and startup sectors. While the increase in gold and silver prices is likely to have an impact on us, FM Sitharaman’s budget is quite well-designed overall. “I’m curious to see how the other changes affect the bottom line, but direct tax breaks are obviously welcome,” says Shreya Gupta, publicist at Four Founders PR.