Budget Expectation Quotes_We Founder Circle and Qandle

Qandle Quote

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”

About Qandle

Qandle, an All-In-One HR tech Platform, launched in 2018, is a young start-up focused on redesigning the HR software from the employees’ perspective. Founded by Chayan Mukhopadhyay (Co-Founder and CEO) and Himanshu Aggarwal (Co-Founder and CTO), Qandle distinguishes itself as a comprehensive solution that covers the entire gamut of HR activities – from hire to retire. Qandle is a modular and extremely configurable solution for HRs looking to deliver the next-generation experience to their employees. Qandle offers 22 individual modules.

We Founder Circle Quote 

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”

About We Founder Circle

Established in 2020 in Mumbai, We Founder Circle is a global community of successful founders & strategic angels that have come together to push the start-up industry and steer it towards aggressive growth. It invests USD 50K- USD 150 K amount in early-stage start-ups that are fuelled with ambition, sustainability, and strategic approach. WFC provides seed funding, business development, and global networking opportunities to start-ups as it believes early-stage start-ups need a lot beyond just financial support to become scalable and stable. It has already enabled USD 12 mn worth of investments across 33 start-up deals in the year 2021 alone.