Budget 2024: Zerodha’s Nithin Kamath seeks tax exemptions for startup investors
Zerodha chief executive officer Nithin Kamath has sought tax exemptions for startup investments, which he believes will eventually help address the unemployment issue plaguing the country.
Taking to microblogging site 'X' (formerlyTwitter) days before the presentation of the Union Budget for FY25, he said that encouraging entrepreneurship is one of the ways to tackle unemployment.
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“Part of the solution is to do everything to encourage entrepreneurs, even in small towns and villages in India. VCs will never go to these areas. Which means other wealthy people are the best hope,” he posted.
Kamath further urged the government to provide tax exemptions for investments in startups under Section 54F of the Income Tax Act.
“One of the things I hope the budget addresses is Section 54F. This section offers tax exemptions on the capital gains earned from the sale of any asset if the proceeds are reinvested in a residential property,” he said, adding that “including investments in startups along with investments in residential property can make startup investing mainstream”.
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