TWEAK IN COS ACT
It's Gonna be All in a Day's Work
The government proposed amending the Companies Act to make it easier to start and run a business. If that goes through in the Budget session, companies can be registered in a day.
The amendments are aimed at removing impediments to doing business and providing an enabling environment for startups. Entrepreneurs and startup investors for long have been urging for just such a thing.
CAPITALISING ON PROFIT
Tax breaks for the Newbies
The FM proposed 100% tax exemption on profits made in any three of a startup's first five years, for ventures set up between April 2016 and March 2019. Investment holding period in unlisted firms was reduced to 2 years from 3 years for availing exemption from capital gains tax. Also, capital gains will not be taxed on investments by individuals in notified startups, in which they hold majority shares.
EMPOWERMENT INC
Women, Students and Dalits
The govt plans to allocate `500 crore to establish startup hubs for women and aspiring entrepreneurs from the backward classes, and `1,700 crore to set up 1,500 skilling institutes to train youngsters both for jobs and to start their own businesses. It also proposed to provide entrepreneurship education and training in 2,200 colleges, 300 schools, 500 industrial training institutes and 50 vocational training centres through massive open online courses, or MOOCs.
AADHAAR, IT'S LEGIT
No More Identity Crisis
The govt will introduce a Bill to give statutory backing to Aadhaar, the unique identity programme that was close to losing its own identity. The move will provide much-needed legal backing to the ambitious project implemented by the previous Congress-led administration and streamline delivery of all govt subsidies to the intended beneficiaries. “This will be a transfor mative piece of legislation,“ the finance minister said.
DIGITAL INDIA
Tech-heavy Budget Budget
2016-17 was the most technologyfocused ever. The finance minister proposed establishing a land information management system; a financial data management centre; an online agricultural marketing platform; a digital food grain procurement system; a website connecting dairy animal breeders and farmers; automation in 3 lakh fair price shops; and a data-mining platform to nab tax evaders.
And the Highlight is...
A digital depository planned for school leaving certificates, college degrees, academic awards and mark sheets.
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Official Blog Fema India Experts Connect with our Facebook Page:- Click and Like our Page Subscribe our Email updates like other 15,000 Members, Free/Easy/Comfortableway
It's Gonna be All in a Day's Work
The government proposed amending the Companies Act to make it easier to start and run a business. If that goes through in the Budget session, companies can be registered in a day.
The amendments are aimed at removing impediments to doing business and providing an enabling environment for startups. Entrepreneurs and startup investors for long have been urging for just such a thing.
CAPITALISING ON PROFIT
Tax breaks for the Newbies
The FM proposed 100% tax exemption on profits made in any three of a startup's first five years, for ventures set up between April 2016 and March 2019. Investment holding period in unlisted firms was reduced to 2 years from 3 years for availing exemption from capital gains tax. Also, capital gains will not be taxed on investments by individuals in notified startups, in which they hold majority shares.
EMPOWERMENT INC
Women, Students and Dalits
The govt plans to allocate `500 crore to establish startup hubs for women and aspiring entrepreneurs from the backward classes, and `1,700 crore to set up 1,500 skilling institutes to train youngsters both for jobs and to start their own businesses. It also proposed to provide entrepreneurship education and training in 2,200 colleges, 300 schools, 500 industrial training institutes and 50 vocational training centres through massive open online courses, or MOOCs.
AADHAAR, IT'S LEGIT
No More Identity Crisis
The govt will introduce a Bill to give statutory backing to Aadhaar, the unique identity programme that was close to losing its own identity. The move will provide much-needed legal backing to the ambitious project implemented by the previous Congress-led administration and streamline delivery of all govt subsidies to the intended beneficiaries. “This will be a transfor mative piece of legislation,“ the finance minister said.
DIGITAL INDIA
Tech-heavy Budget Budget
2016-17 was the most technologyfocused ever. The finance minister proposed establishing a land information management system; a financial data management centre; an online agricultural marketing platform; a digital food grain procurement system; a website connecting dairy animal breeders and farmers; automation in 3 lakh fair price shops; and a data-mining platform to nab tax evaders.
And the Highlight is...
A digital depository planned for school leaving certificates, college degrees, academic awards and mark sheets.
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Official Blog Fema India Experts Connect with our Facebook Page:- Click and Like our Page Subscribe our Email updates like other 15,000 Members, Free/Easy/Comfortableway
