The government proposes adjustments to the income tax rules for startups: A key official discusses how it will help the sector grow.

A top government official said on Friday that proposed revisions to the income tax rules for startups will provide parity between domestic and foreign investors.

According to Revenue Secretary Sanjay Malhotra, domestic investors are already taxed under Section 56 of the law.

According to tax experts, the Budget proposes modifying Section 56 of the Income Tax Act to combat tax evasion.