Prime Minister Narendra Modi launches action plan for Startup India. Here are the key points
- Reduction in compliance
- No inspection for the first three years.
- Launch of Startup India Hub. A single point of contact.
- A mobile app to register a company in single day through MCI(Ministry of corporate affairs)
- Simplifying patent filing from months to days.
- Protecting IP(intellectual property) and YP(Youth prperty)
- Rebate of 80% on patent filing charges
- Easier ways to shutdown a startup.
- We are bringing a bill in Parliament to let startups can exit 90 days.
- Rs. 10,000 crore corpus fund for startups through SIDBI and with annual investment milestone of 2000cr
- A credit guarantee fund for startups to facilitate loans through banks
- Tax exemption on capital gains for investors
- Three-year tax exemption for startups registered after april 1st 2016
- encouraging women to build startups.
- Atal Innovation Mission to give an impetus to innovation and encourage the talent among our people.
- A startup fest will be organised to network and encourage startups.
SEE THE COMPLETE ACTION PLAN DOCUMENT HERE http://indianceo.in/wp-content/uploads/2016/01/StartupIndia_ActionPlan_16January2016.pdf