Tax exemption for capital gain is a significant step: K S Bhatia, CEO, Pumpkart
Chandigarh : Pumpkart CEO KS Bhatia has hailed the Administration of UT Chandigarh for announcing various concessions for start-ups, saying that these measures will give a big boost to them and revive the startup ecosystem in the long run. K S Bhatia “I personally praise the UT Administration for giving tax exemptions to start-ups. Tax exemption for capital gain is a great step,” said Bhatia in a statement on Sunday, while advising the city administration to allow tax-free property registration. “This will encourage more startups to come and invest in the region. Similarly, seed funding of Rs 50 crore is a good step but it should be increased to Rs 100 crore. Minimum seed funding should be Rs 50 lakh per start-up,” he added. Bhatia, who has set up 150 plus stores of Agri machinery in Karnataka with a grant of two million US dollars from the Government of Karnataka, said that UT Chandigarh also needs Skill Centres along with incubation centers. “The UT Administration should encour