“The last budget propelled India towards a digital future. The introduction of the digital rupee, policies on cryptocurrencies, e-passports, digital universities, and agricultural drones are some of the stepping stones to a digital future. The start-up ecosystem, however, has long been emphasizing the need to overhaul ESOP taxation – they should be taxed at the time of sale and not at the time of vesting. ESOP offerings are one of the most effective tools for attracting and retaining talent, and changing how they are taxed will further drive innovation. Though the government has put exceptions in place for delaying income tax, we anticipate more liberal exemptions to facilitate the seamless exercise of ESOPs.”
BUDGET-2023: Pre-Budget Views by Shivam Sangla, Founder & CEO, Leegality
