For a developing country like India where employment has always been a challenge, the government is looking towards promoting new businesses and start-ups which can create employment opportunities. To enhance the same, the Start-up India Action Plan has been initiated by the Government of India. One of the primary focus of such initiative is to provide financial relaxations and ease the compliance for setting up a new venture by discarding the restrictive government policies and relaxing certain provisions. Let’s study, how one can benefit from such plan.
A start-up is generally a newly set-up venture which is growing and which may offer an innovative product or service which could not be existing or which could be developed to serve the consumer in a more appropriate way.
A Partnership, Limited Liability Partnership (LLP) or a company is eligible for tax exemption under the Start-up India Action Plan provided:
The initiative taken for promoting the start-ups have pushed various entrepreneurs to start new ventures. However, it has helped to boost entrepreneurship in India. The plan is aimed to promote finance to such new establishments. Therefore, it is necessary to know everything about it.
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