Startup Street: After 3D-Printing A Liver, This Startup Has Bio-Engineered A Cornea
5 May 2019 9:31 AM IST
Pandorum?s 3D-printed cornea, CBRE-Nasscom?s challenge and a proposal to relax tax laws on Startup Street this week.
- One of the world's biggest real estate consultant is looking to support Indian startups.
- "Being able to bio-engineer critical tissues such as the human cornea is a significant milestone," Dr Tuhin Bhowmick, co-founder of Pandorum, said in a media statement.
- The Department of Promotion of Industry and Internal Trade has proposed relaxing income tax laws pertaining to sale of residential properties and carrying forward of losses to facilitate fundraising by startups.
- As part of easing regulatory requirements for startups, the DPIIT has recommended amendments in Section 54GB (capital gain on transfer of residential property not to be charged in certain cases) and Section 79 (carry forward and set off of losses in case of certain companies) of the Income Tax Act.
- It has suggested changes in Section 54GB of Income Tax Act to exempt proceeds on sale of residential properties from capital gains tax if it is used to fund a startup.
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