Which of the following statements regarding Start Ups is are correct 1 Companies shou...........

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Which of the following statements regarding Start-Ups is/are correct?

1. Companies should have a turnover of less than 25 crores to qualify as a start-up.

2. Companies should not be older than 5 years.

3. Biotechnology companies should not be older than 10 years.

Choose the correct answer:

1 and 2 only

1 and 3 only

2 and 3 only

1, 2 and 3

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Explanation:

The 2nd statement is incorrect because the recent amendment this week by DIPP has changed the definition of start-ups. The threshold age for companies to qualify as start-up has been increased from 5 years to 7 years i.e. a company seeking to benefits under Start-up India scheme should not be older than 7 years. Rest statements 1 and 3 are correct.