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Achievements of Startup India Action Plan

Achievements of Startup India Action Plan - News and Press Release - Dated:- 8-2-2017 - Achievements of 'Startup India' Action Plan Achievements Simplification and Hand-Holding Compliance Regime based on Self-Certification List of 36 industries in white category has been published on CPCB s website. CPCB has exempted industries in white from all the applicable self-certifications under the 3 Environment Acts listed in the Startup India Action Plan. Ministry of Skill Development and Entre .....

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tal Startup India portal developed to provide access to the following: Startup recognition. Incubator recognition. Advertising space for Startups. Learning & development module. The portal acts as a one stop solution for all queries related to the StartupIndiainitiative. Startup India mobile app developed to provide on-the-go services andinformation to users. Legal Support and Fast-tracking Patent Examination at Lower Costs Panel of over 422 facilitators for Patent and Design and 669 facilit .....

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akings may relax condition of prior experience and prior turnover with respect to MSEs in all public procurements subject to meeting of quality and technical specifications. Faster Exit for Startups Provisions for Corporate Insolvency Resolution Process have been notified on 1.12.2016. Liquidation provisions have also been notified on 9th December 2016. Draft rules and regulations have been uploaded on MCA website for public comments. Letter written to MCA to notify Startups as fast track firms .....

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ides for exemption of capital gain arising out of transfer of long term capital asset (not exceeding INR 50 lakhs in a financial year) invested in a fund notified by Central Government. Section 54GB of Income-tax Act, 1961 has been amended to provide exemption from tax on capital gains arising out of sale of residential house or a residential plot of land if the amount of net consideration is invested in equity shares of eligible Startups for utilizing the same for purchase of specified asset. T .....

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n for three consecutive assessment years out of seven years beginning from the year in which such eligible start up is incorporated. This amendment will take effect from 1st April, 2018 and will accordingly, apply in relation to assessment year 2018-19 and subsequent years. Tax Exemption on Investments above Fair Market Value Removal of Angel Tax Tax exemption on investments above Fair Market Value have been introduced on 14 June 2016 for investments made in Startups. Launch of Atal Innovation M .....

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. The Research Park at IIT Gandhinagar is being set up by DST. Launching of Innovation Focused Programs for Students Ucchatar Aavishkar Yojana (UAY): INR 475 crore for 2016-18 has been approved. 180 proposals have been received from IITs and 92 have been recommended for approval. Participation and Partnership Guidelines for logo usage and financial assistance drafted. Partnership and participation in the following events - TiE Global Summit 2016. Uber Exchange. IIT Bombay E-Summit 2017. India-Po .....

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minimum average maturity period of three years Foreign venture capital investors (FVCI) are now allowed to invest in Startups irrespective of any sector without the Reserve Bank of India s approval. SEBI (Foreign Portfolio Investors) Regulations, 2014 have been amended to permit FPIs to invest in unlisted Non-Convertible debentures and securitised debt instruments The SEBI Board has approved five key amendments to SEBI (Alternative Investment Funds) Regulations, 2012 with respect to Angel Funds .....

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to one year. Angel Funds are allowed to invest in overseas venture capital undertakings upto 25% of their investible corpus in line with other AIFs. I. Ucchatar Aavishkar Yojana (UAY): The objective of UAY is to promote industry and outcome-oriented research projects by students. It is being implemented under Ministry of Human Resource Development. INR 475 crore has been provisioned for 2016-18. 180 proposals have been received from IITs and 92 have been approved. II. NIDHI (National Initiative .....

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