Start-ups in India set to get Income-Tax dept, DIPP booster shot

The Department of Industrial Policy and Promotion (DIPP) is working with the tax department and regulators to ease the rules and laws for startups to support budding entrepreneurs, a top government official said.

Start-ups in India set to get Income-Tax dept, DIPP booster shot
“We are easing regulations for startups. We are also working with tax department and regulators, and we have been able to simplify 24 regulations so far,” DIPP Secretary Ramesh Abhishek said here. Image Source: Start-up Indian website
Written By: PTI
Updated: Thu, Nov 01, 2018
10:37 am
New Delhi, PTI
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The Department of Industrial Policy and Promotion (DIPP) is working with the tax department and regulators to ease the rules and laws for startups to support budding entrepreneurs, a top government official said.

“We are easing regulations for startups. We are also working with tax department and regulators, and we have been able to simplify 24 regulations so far,” DIPP Secretary Ramesh Abhishek said here.

He said that easing the processes and norms are the biggest agenda for the department so that it supports growth of startups.

The secretary also said that to increase availability of funds for startups, the department has asked SIDBI to commit Rs 3,300 crore by March next year. 

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