Government raises age cap of start-ups from 7 to 10 years
19 Feb 2019 4:47 AM GMT
A business entity will now be considered a start-up up to 10 years from its date of incorporation or registration instead of the existing period of 7 years, the government said on Tuesday."An entity will (also) continue to be recognised as a
- A business entity will now be considered a start-up up to 10 years from its date of incorporation or registration instead of the existing period of 7 years, the government said on Tuesday.
- The consideration of shares received by eligible startups for shares issued or proposed to be issued by all investors will now be exempt up to an aggregate limit of Rs 25 crore.
- Start-ups will need to file a duly signed declaration with DPIIT for availing the exemption.
Next Story