SKP's Comments
- The exemptions announced in this notification are a welcomed change in the sphere of reporting and compliance.
- Start-ups shall benefit greatly from a reduction in compliance burden.
- Start-ups in booming sectors like Biotechnology shall enjoy benefits for an additional period.
- These exemptions in compliance and reporting are in line with the Government’s on-going efforts to bring about ease of doing business in India and for the furtherance of initiatives like “Make in India”. They aim at creating a conducive environment for start-ups as envisioned under the “Start-up India” initiative announced by the Government of India.
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