Key Points
India-focused startups incorporated overseas should be able to list on the domestic stock exchanges within the existing externalised structures, Indian industry body National Association of Software and Service Companies (Nasscom) has suggested as part of its Union Budget 2024-25 recommendations...
Out of 139 startups who participated in a survey conducted by Nasscom, approximately 16.5% of Indian-origin startups have externalised legal structures and would consider raising equity capital through public listing in India if the regulations are amended to allow for a direct listing, it said.. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisit..
For the Budget, it has recommended to set up an expert task force, with participation from the relevant government departments, regulators, industry representatives and legal experts, to recommend a comprehensive set of measures to make direct listing an attractive option for Indian origin foreign start-ups to consider...
Nasscom wants the government to substantially reduce the time it takes to conclude the Advance Pricing Agreements (APAs), reduce safe harbour mark-ups for software development services and ITeS from 17 18% to 14 16% and make the safe harbour regime available for entities with international transactions of up to Rs 1,000 crore, up from the current Rs 200 crore...
The reduction will enable more taxpayers to opt for safe harbour regime that currently applies only to taxpayers having eligible international transactions for software development/ITeS/contract R&D related to software development up to Rs 200 crore, Nasscoms pre-budget note said amid ongoing headwinds faced by the export-oriented sectors...
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