80% of the 2,830 respondents said their business had not profited at all.
The Startup India program started a year ago, has so far recognized just 5,350 new companies formally perceived under StartupIndia, of which just 74 have profited tax benefits until now. Likewise, the Rs 10,000 crore fund set up in accordance with the Startup India Action Plan a year ago, stands at Rs 605 crore to 17 AIFs, and 75 startups have received funding from the AIFs.
Another worry for startups this year has been that of tax notices. Of 2,860 respondents, 39% said they got tax notoces this year.
"At the point when there are high valuations, which occurred amid 2014-15, it isn't strange, after couple of years, for these startups to get tax notices asking for clarifications about their high valuation and for what valid reason it ought not be considered as income to company," said corporate legal advisor Vaibhav Parikh of Nishith Desai Associates.
"New companies have said that they use advertising services from worldwide organizations like Google, Facebook, Twitter and these organizations charge Indian organizations from their remote workplaces because of which startups are compelled to pay a 6% equalisation levy on top of invoice value as their billing entity isn't enrolled in India," said Yatish Rajawat, boss technique officer at LocalCircles