Union Finance Minister Nirmala Sitharaman presented the Union Budget today. There was no significant change in this budget regarding income tax, but some reliefs were announced in the matter of corporate tax. This is going to give relief especially to startups and manufacturing companies. The Finance Minister made a big announcement for the startup. Now the incorporation period for startups has been extended by one year to avail the tax exemption. This means that now startups formed by 2023 will get the benefit of tax exemption. Watch this video.