Mr. Chayan Mukhopadhyay, Co-founder & CEO of Qandle

“Our current tax system in a way penalises investing in unlisted companies for long term capital gain when an investor is actually taking higher risk, and eventually his investment is creating more jobs in the market. We need a more friendly capital gain tax system that also encourages easy access to capital. Additionally, the reforms should be such that Indian startups do not feel the need to incorporate outside India, which otherwise is a rising trend”

Mr. Gaurav VK Singhvi, Co-Founder, We Founder Circle

“The startup income tax exemption which is available to startups is very complex and time-consuming. We understand the government must look for a simpler procedure. Additionally, ESOPs taxation is a hurdle for startups. In the early stages, startups cannot offer handsome salaries, therefore they provide ESOPs. However, if at current valuation ESOPs have tax liability then even that cushion is not there anymore. Furthermore, Indian startups cannot raise funds through SAFE Notes which is the most acceptable instrument across the world. Lastly, I request the government, the way they have established SEZ Special Economic Zones or investment regions should form a Special Startup Region, SSR, which is spread across the country in Tier-II or Tier-III of India”