Does Your Startup Have A Hiring Plan? Govt Sets New Rule for Startups To Qualify for Startup India Programme | LeanFlo Inc.

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  • The Indian government is considering introducing a new rule for startups to qualify for the Startup India programme so that it can meet its target of providing employment to one crore people before its term ends.

    The government is introducing a new rule to qualify for the StartUp India Program. The startups will soon have to declare how many jobs they would be creating for Indian citizens through their businesses. Apart from innovation, the government is now looking for startups that can help it achieve its job creation goal.

    Under the new definition, in order to qualify as a startup in the country, an entity would have to declare its job creation target and meet certain financial standards besides having a certain level of innovation in its product or service. We at LeanFLo Inc. had earlier detailed the steps to register for StartUp India program in a earlier blog. There same can be accessed StartUp India Program..

    Companies which have been incorporated after March 31, 2016 are eligible of availing a three-year tax holiday in the first seven years of their existence under the Startup India initiative.

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