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START-UP INDIA -Coverage and Eligibility

START-UP INDIA -Coverage and Eligibility - News and Press Release - Dated:- 20-7-2016 - Till date 728 applications have been received in the Startup India portal. Out of them, 180 applications are complete and have been recognized as startups by Department of Industrial Policy and Promotion (DIPP). Only 16 applicants are incorporated after 1.04.2016 and are thus eligible for consideration for tax benefits, as per the Finance Act 2016. The applications for tax benefits are examined by the Inter-M .....

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tups. To seek clarifications pertaining to Certificate of Recognition as a Startup , Certificate of Eligibility to avail tax benefits, information on incubators or funding, one can get in touch with the Hub on Toll-Free number: 1800115565 or email: id dipp-startups@nic.in. Dedicated professionals are handling over 200 queries per day. DIPP has requested State governments and administration of Union Territories to set up hub as well as incubators to help Startups during various stages of their li .....

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d; (iv) Top 50 companies in India have been requested to contribute towards strengthening the incubation facilities in the country through their Corporate Social Responsibility (CSR) initiatives; (v) List of recognized incubators has been augmented to provide more avenues to Startups to obtain mentoring support. 20 industry bodies and organisations have been recognized by DIPP who will assess the innovative nature of Startups and provide certificates to enable them to get recognition from DIPP. .....

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rtificate of recognition is sufficient to avail this benefit. Startup India Action Plan envisages spreading of the Startup movement beyond the digital/technology sector to a wide array of sectors including agriculture, manufacturing, social sector, healthcare, education etc. and from existing tier 1 cities to tier 2 and 3 cities including semi-urban and rural areas. The measures which have been implemented under Startup India Initiative till date in addition to those mentioned above are as follo .....

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the 2nd meeting of Inter-Ministerial Board (one has been recommended for tax benefits and other two have been disallowed). (ii) Fund of Funds: A 'fund of funds' (FFS) of INR 10,000 crores to support innovation driven Startups has been established which shall be managed by SIDBI. The fund will invest in SEBI registered Alternative Investment Funds (AIFs) which, in turn, will invest in Startups. It will act as an enabler to attract private capital in the form of equity, quasi-equity, soft .....

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016 and 31st March 2019. To avail these benefits one must get a Certificate of Eligibility from the Inter-Ministerial Board. Tax exemption on investments above Fair Market Value have been introduced on 14 June 2016for investments made in Startups. (iv) Self-Certification: Central pollution Control Board (CPCB) has exempted 36 industries in white category from all the applicable self-certifications under the 3 environment Acts (The water (Prevention & Control of Pollution) Act, 1974; The Wate .....

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