Govt goes extra mile for startups, raises turnover limit to Rs 100 cr
19 Feb 2019 8:32 AM GMT
An entity will be considered as a startup up to 10 years from the date of incorporation.
- Commerce Minister Suresh Prabhu on Tuesday cleared a string of proposals aimed at widening the definition of startup and easing investor worries over angel tax, a move that is seen as a shot in the arm for the pre-listing space.
- The step is expected to boost angel investment flows into India.
- In addition, consideration received by eligible startups for shares issued or proposed to be issued to a listed company having a net worth of Rs 100 crore or turnover of at least Rs 250 crore will also be exempted, DIPP said in a statement.
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