Skip to main content

Tax exemption for capital gain is a significant step: KS Bhatia

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.

“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 encourage logistics, fintech, and agri-tech startups who can contribute a lot in the economic development of both  Punjab and Haryana. The government should make startup parks,” he said.

Reflecting further, Bhatia said: “In the startup parks, plots should be allotted to startups at a very reasonable price to some bigger startups who are leaving other cities like Bengaluru, Delhi, Mumbai, and Hyderabad. It will encourage them to work from startup parks instead of their head offices in their home cities. It will help us promote and maintain Chandigarh's startup ecosystem.” BW

 

Comments

Popular posts from this blog

Punjab's second NAFED Bazaar set up in Ludhiana; farmers to become 'agri-brand' owners

  Ludhiana : Punjab's second and Ludhiana 's first NAFED Bazaar store opened  its doors in E Block, SBS Nagar. NAFED Bazaar was inaugurated by senior IPS officer Narinder Bhargav. The outlet has been set up by India 's largest and most premier Central government owned Agricultural conglomerate - National Agricultural Cooperative Marketing Federation of India (NAFED) in association with Seedstart Retail. NAFED Bazaar Punjab's operations will be taken care of by a young and dynamic woman entrepreneur - London based NRI Gurbani Mehta, who's startup Seedstart Retail is NAFED's channel partner for Punjab . The inauguration ceremony took place in the presence of Gurbani Mehta. Sanjeev Kumar Chaddha (IFS), MD, NAFED also joined in the inaugural ceremony online.  Gurbani Mehta while talking to media persons said, “I am jubilant to open doors of our second store in Punjab . Our idea is to become a  bridge between farmers, manu...

AIPL Group to invest Rs 500 crore in Punjab over next 3 years

  Chandigarh : AIPL Group, a leading real estate development entity, is all set to invest Rs 500 crore in  Punjab  over the next three years as a part of its expansion plan in the residential and retail sectors. Giving his views on AIPL's mega expansion plans for Punjab, Pankaj Pal, Group Executive Director, AIPL said, "The investment, will be a befitting testimonial of the post-pandemic green shoots in the realty sector for the region, and will spur the growth of the real estate industry in Punjab and help AIPL to further consolidate itself as a key realty player in the state." An ace housing and commercial infra developer, AIPL Group has so far delivered four projects in Punjab – two residential and two commercial –, and two ongoing projects. Dreamcity Amritsar, a residential project developed and delivered, is spread across 148 acres of land, and Dreamcity, Gobindgarh-Khanna, is spread across 88 acres. At present, over 550 happy families are residing in its prope...

A unique health facility - HIIMS unveiled in Amritsar

Amritsar : Hospital and Institute of Integrated Medical Sciences (HIIMS) officials have announced the opening of its new branch in  Amritsar . The details of the start of operations of HIIMS in  Amritsar  were shared by renowned Ayurveda and Meditation Guru, Acharya Manish, Dr. Awdhesh Pandey,  MBBS ,  MD , Dr. Geetika Choudhary (BAMS), and Dr. Gurpreet (BAMS) during a press conference held at the premises of HIIMS Amritsar at  Ranjit Avenue . HIIMS is  India 's first integrated medical sciences hospital which provides a unique healthcare facility focused on drug-free treatment based on Ayurveda, Naturopathy, Diet Therapy, etc. HIIMS Amritsar will offer GRAD (Gravitational Resistance and Diet) treatment to kidney patients. Health experts said that two hours of Hot Water Immersion Therapy (HWIT), Head Down Tilt Therapy (HDT) combined with the Disciplined and Intelligent People  Diet  (DIP Diet) form the GRAD system. In addit...