Question

What are the features of the Startup India Scheme of the Government of India.

Options

• Simplification and hand-holding

• No Inspections

• Startup India

• All of the above

Answer 1

All of the above

Explanation - 

The Government of India's Start Up India Scheme aims to create an atmosphere that encourages entrepreneurship across the country. Its goal is to empower startups through design and innovation. The following are some of the scheme's features:

1. Simplification and hand-holding: The government has declared that the screening, approval, and registration of startups will be simplified.
2. No Inspections: There will be no labour law inspections for the first three years after the start.
3. Starttip India Hub : Creating Startup India with Starttip India Hub. Hub to facilitate information sharing and funding awareness. 
4. Legal Support: The Startups Intellectual Property Protection (SIPP) scheme was launched to help startups defend their patents, trademarks, and designs.
5. Simple exit : Startups should be able to exit quickly to encourage experimentation and innovation.
6. Tax exemption: Payment suspension for the first three years of income tax establishing an interministerial board certification and the ability to deduct capital gains taxes For the first three years, there is no charge.