{"id":1672,"date":"2016-02-08T12:32:43","date_gmt":"2016-02-08T12:32:43","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=1672"},"modified":"2021-07-10T08:40:55","modified_gmt":"2021-07-10T08:40:55","slug":"corporate-and-professional-update-january-312016","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-january-312016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE   JANUARY 31,2016"},"content":{"rendered":"<h3><span style=\"color: #0000ff;\">CORPORATE AND PROFESSIONAL UPDATE \u00a0 JANUARY 31,2016<\/span><\/h3>\n<figure id=\"attachment_3061\" aria-describedby=\"caption-attachment-3061\" style=\"width: 464px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/02\/L.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-3061\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/02\/L.jpg\" alt=\"www.caindelhiindia.com; CORPORATE UPDATES\" width=\"464\" height=\"232\" \/><\/a><figcaption id=\"caption-attachment-3061\" class=\"wp-caption-text\">www.caindelhiindia.com; CORPORATE UPDATES<\/figcaption><\/figure>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>KEY INCENTIVES FOR START-UP<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Key incentives proposed under this start-up scheme are as under:<\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #00ccff;\"><strong>Self-Certification:<\/strong>\u00a0<\/span> For labour laws and environment laws so as to reduce the regulatory burden. Further in case of the labour laws, no inspections will be conducted for initial period of 3 years.<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Patent registration at lower cost:<\/strong><\/span> Patent applications of Start-ups shall be fast tracked for examination and disposal, so that they can realize the value of their IPR at the earliest possible. Further, Start-ups shall be provided 80% rebate in filing of patents vis-\u00e0-vis other companies.<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Mobile App for tracking:<\/strong><\/span> for registration and tracking status of it. The Mobile App shall be made available fromApril 1, 2016\u00a0on all leading mobile\/ smart devices&#8217; platforms.<\/li>\n<li><strong><span style=\"color: #00ccff;\">Faster exit for Start-ups:<\/span><\/strong> may be wound up within a period of 90 days from making of an application for winding up on a fast track basis.<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Exemption if capital gain is invested in start-ups:<\/strong><\/span> Exemption shall be given in respect of a capital gain which is invested in the Start-up ecosystem.<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Tax exemption for 3 years:<\/strong> <\/span>Profits of Start-up initiatives shall be exempted from income-tax for a period of 3 years. The exemption shall be available subject to non-distribution of dividend by the Start-up. A Start-up shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, setup for such purpose.<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Investments in start-ups above FMV is not taxable:<\/strong> <\/span>Consideration received by a Start-ups for issuing shares at a price higher than its Fair Market Value would not be taxable as income from other Sources in the hands of recipient under section 56(2)(viib) of the Income-tax Act.<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Start-up India Hub:<\/strong> <\/span>The Government has announced launch of Start-up India Hub to create single point of contact for the entire Start-up ecosystem and enable knowledge exchange and access to funding.<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Rexalation in Public tender:<\/strong><\/span> In order to promote Start-ups, Government shall exempt Start-ups (in the manufacturing sector) from the criteria of &#8220;prior experience\/turnover&#8221; for filing of public tenders.<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Creating corpus of Rs. 10,000 crore:<\/strong><\/span> Rs. 2,500 crore per year. The Fund will be in the nature of fund of funds, which means that it will not invest directly into Start-ups, but shall participate in the capital of SEBI registered Venture Funds.<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Credit Guarantee fund:<\/strong><\/span> Debt funding to Start-ups is also perceived as high risk area and to encourage Banks and other Lenders to provide Venture Debts to Start-ups, Credit guarantee mechanism through National Credit Guarantee Trust Company (NCGTC)\/ SIDBI is being envisaged with a budgetary Corpus of INR 500 crore per year for the next four years.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact : \u00a0<a href=\"mailto:info@caindelhiindia.com\">info@caindelhiindia.com<\/a>\u00a0or call\u00a0 at\u00a0011-233 43 333<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE AND PROFESSIONAL UPDATE \u00a0 JANUARY 31,2016 KEY INCENTIVES FOR START-UP Key incentives proposed under this start-up scheme are as under: Self-Certification:\u00a0 For labour laws and environment laws so as to reduce the regulatory burden. Further in case of the labour laws, no inspections will be conducted for initial period of 3 years. Patent registration &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[21],"tags":[566,502,501,569,572,179,180,214,181,194,541,562,560,550,538],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1672"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=1672"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1672\/revisions"}],"predecessor-version":[{"id":3062,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1672\/revisions\/3062"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=1672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=1672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=1672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}