According to him, part of the solution is to do everything to encourage entrepreneurs, even in India's small towns and villages.
"Venture capitalists (VCs) will never go into these areas. That means other rich people are the best hope," he posted on the X social media platform.
He said one of the things the budget could look at is "Section 54F". This section provides tax exemption on capital gains earned from the sale of a property if the income is reinvested in residential property.
“Combining investments in startups with investments in residential property could make startup investing mainstream,” Kamath suggested. That said, even though some people may abuse the law, the potential benefits are infinitely greater and worth the slight risk.
In Section 54F, as per the last Union Budget, the maximum tax exemption for sale of any long-term property other than residential property is limited to Rs 10 crore.
"Venture capitalists (VCs) will never go into these areas. That means other rich people are the best hope," he posted on the X social media platform.
He said one of the things the budget could look at is "Section 54F". This section provides tax exemption on capital gains earned from the sale of a property if the income is reinvested in residential property.
“Combining investments in startups with investments in residential property could make startup investing mainstream,” Kamath suggested. That said, even though some people may abuse the law, the potential benefits are infinitely greater and worth the slight risk.
In Section 54F, as per the last Union Budget, the maximum tax exemption for sale of any long-term property other than residential property is limited to Rs 10 crore.
