Moreover, another big advantage is that startups need not to pay tax on its first S$100,000 of annual profits for at least 3 years and have to pay just 8.5 percent tax on the next S$200,000 of profits. For income above S$300,000 corporate tax is 17 percent that is 34 percent in India, surprisingly double.

In countries like U.S.A., the registration requires a day to register a company where as in India it could take weeks, or months.

According to R Chandrashekhar, president Nasscom, “We have to benchmark ourselves with other countries, because many of them are explicitly focusing on Indian entrepreneurs and trying to attract them to their countries. The very nature of the tech sector is such that it is location independent; you can set up in any place and operate from other place. Such companies cannot be held back by regulatory pressure, they can only be attracted by regulatory invitation,” reports The Times of India.

The situation is alarming one and the government need to put an eye over the matter of concern as it deals in national interest.

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