Tag Archives: Change in section 54GB and section 79

Relaxing startups for fund raising

Relaxing startups for fund raising (100 day action plan)

With a field of vision to facilitate fund raising by start-ups, the Department for Promotion of Industry and Internal Trade (“DPIIT” or the “department”) proposed relaxation in the income tax laws proposing a customized incentive package to attract foreign investments in sectors such as electronics, chemicals and food processing. This proposal is a part of a 100 day action plan prepared by DPIIT focusing “Startup India Vision 2024” to promote growth of bussing entrepreneurs facing difficulty in raising finances. At present, startups comply with a plethora of requirements such as GST filings, tax returns and other local laws every month. … Read more