Only 88 Out of 8,756 DIPP Recognized Startups Received Tax Benefits in India
The Government has decided to extend tax benefits of 88 startups out of 8,765 that have been recognized by the Department of Industrial Policy and Promotion as reported by a top official today.
Prime Minister, Narendra Modi had introduced a spectrum of incentives on January 2016 to encourage startup growth in the country which included a provision of a tax holiday, exemption from capital gains and an inspector raj free regime as a part of the action plan.
Starting January 2016, 88 startups out of 8756 have been identified for claiming the tax exemption, said DIPP Secretary Ramesh Abhisheikh. These startups are from different sectors that include:
IT Services (15 percent)
Education (7 percent)
Healthcare and Life Sciences (12 percent)
Agriculture (4 percent)
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