Start-Up India
These are the key announcements made by PM Modi in the Start-Up India Action Plan. A mobile app to be launched on April 1 making it possible to register startups in one day - ease the registration process which might have taken a longer time if we went the Companies Act way. Allows the Start-Up to straight away get down to business. Saves time, money and energy. Compliance regime based on self-certification and no regulatory inspection for three years - this is a good move considering it would allow the Start-Up to lay a strong foundation for it's business without much disturbance from the government. Cuts down on bureaucracy. Tax exemptions for three years -Since first few years is the most crucial period for any business. This makes sure that the break-even point is reached as soon as possible. More income would be in the hands of the entrepreneur and he'll be able to really use it to recover his costs faster. No capital gains tax if money is reinveste
