Feb 1, 2021
By: Sanchita DashHere’s what she announced for startups
Credit: BCCL
The limit for paid-up capital increased four fold, and the turnover limit increased 10 fold.
Credit: Unsplash
Those with paid up capital not exceeding INR 50 lakh to not exceeding INR 2 crore
Credit: BCCL
Companies whose turnover is between INR 2 crore and INR 20 crore.
Credit: Unsplash
It will be set up at the Gujarat International Finance Tec (GIFT) City.
Credit: Unsplash
Innovators can now form 1-person companies without restrictions, paid-up capital, or turnover norms.
Credit: Unsplash
The minimum days of residency needed before setting up a company has been reduced to 120 days from 182 days.
Credit: BCCL
"A welcome move for startups as 2 directors were needed and founders were forced to co opt others under the Companies Act,” he said
Credit: BCCL
Eligibility of claiming tax holiday extended by one year until March, 2022.
Credit: Unsplash
Finance Minister extended capital gains exemptions by one more year till March 22
Credit: Unsplash
Startups who wanted tax exemption on ESOP sale, saw that being ignored in the Budget.
Credit: Unsplash
Credit: BCCL