Taxation Provisions for Startups to Know
By Team Legistify / 2016-09-21
Budget 2016 also had a different section for the tax benefits and exemption for new startups. The Government aims to boost the economy with the help of technology and consumer-oriented startups.

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The Prime Minister of India, Shri Narendra Modi announced some visionary goals to enhance the Startup ecosystem in the country. Promoting the Startup ideology, the PM brought up the Startup India initiative. The initiative is proposed to fulfill the needs of the struggling entrepreneurs and encourage them to work in a more feasible manner.

Pic Courtesy- Your Story

Notedly, the Budget 2016 also had a different section for the tax benefits and exemption for new startups. The Government aims to boost the economy with the help of technology and consumer oriented startups.

Action Plan by the Government

The Government has also issued an action plan that lists around 19 points that could help the startups to grow at a faster rate . The action points are complied with easy launch of mobile app and website, self-certification, startup India community, low-cost patent examination, proper funding support, fast exits, etc.

Budget 2016 also had a different section for the tax benefits and exemption for new startups. The Government aims to boost the economy with the help of technology and consumer-oriented startups.

Have a Legal Issue?

Get connected to the Best Lawyers and Chartered Accountants Near You!


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