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Pre-Budget Expectations – Start up

S Anand, CEO & Co-Founder of PaySprint, a Fintech venture focussed on Next Gen Neo Banking Solutions, offering a Unified Open API Platform

Tax relief for growing Fintech startups:

Fintech startups are hopeful for GST exemptions until a certain level of revenue is achieved. Liberalisation of the tax structure along with depreciation on the fixed assets used by Fintechs can go a long way in promoting advancement. Announcement of tax benefits for research & development activities would bolster the ideation & execution of differentiating financial products & services for the masses.

The continued push for Digital Payments:

The recent Budgets introduced several incentive schemes to promote digital payments & we expect the momentum to continue in this year’s Budget. The UPI has augmented India’s payments & collections infrastructure and has penetrated the unserved & underserved population in semi-urban & rural regions. New guidelines regarding the UPI transaction cost will be a major development, providing a much-needed impetus to the sector’s expansion.

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