The move, which is to ensure availability of funds for startups, follows concerns regarding the taxation of angel investments in this sector. The Central Board of Direct Taxes will notify the changes separately.
For the six – Flipkart, Snapdeal, Paytm, Ola, Zomato and the latest entrant Swiggy – it was the quest for capital to scale their businesses that was easily available from entities across the border that had the founders dilute their stakes in their ventures.
The Indian e-commerce market will grow at the rate of 30 per cent a year until it reaches a valuation of $ 200 billion by 2026. A maximum number of job postings were located in Delhi/NCR (at 83 per cent).
Fin-tech start-up base is estimated to be 360 in 2017 indicating at 31 per cent year on year growth with over USD 200 mn funding received in the first half of 2017, recording a growth of 135 per cent since the comparable period in 2016, it said.