Union Budget 2025: Tax benefits, fund of funds scheme among other things announced for startups
Finance Minister also announced the extension of the time limit for filing updated returns for any assessment year. The time limit is proposed to be extended from the current two years to four years.
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In her budget speech today, Union Finance Minister Nirmala Sitharaman announced a few things for startup sector as well. "The government has increased the period of incorporation by five years for startups to avail tax benefits," said Sitharaman.
She also announced another round of Fund of Funds scheme for startups with a corpus of Rs 10,000 crore to promote growth of budding entrepreneurs.
Department for Promotion of Industry and Internal Trade (DPIIT) has recognised over 1.5 lakh startups so far.
Finance Minister also announced the extension of the time limit for filing updated returns for any assessment year. The time limit is proposed to be extended from the current two years to four years.
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