NRDC to Assist Start-Up India initiative

“Start-Up India” is an initiative of Department of Industrial Policy and Promotion (DIPP), Government of India designed for fostering innovations, create jobs and facilitate investment. Start-Up India receives applications from allover India for getting recognition (as Start-Up) for further proposed benefits under this scheme including the three year tax benefits.

DIPP has given the responsibility of all these Start Up proposals to NRDC for screening/assessment and recommending the eligible start-ups for tax benefits. The recommended proposals would be put up to Inter Ministrial Board (IMB) by DIPP which decides and approves which start-up should be given tax benefit. Till date more than 4000 aspirants have applied for recognition certificate .

NRDC evaluates the applications on the basis of norms given by Start-Up India Initiative and submit the report regarding the same to Inter Ministrial Board (IMB) for final decision.

Till date NRDC has evaluated more than 400 cases upto 10^th IMB (Inter Ministrial Board) Meeting. Based on the recommendations of NRDC, the IMB has approved 50 applications for availing tax benefits so far. It is expected that about 5000 Start-Up applications would be evaluated by NRDC in the next one year for Start Up India.