Recently Indian government has relaxed the norms under the definition of Start Ups Which of the foll...........

Economic Affairs Make in India

Recently,Indian government has relaxed the norms under the definition of Start-Ups.Which of the following statements are incorrect regarding this?

1. The investment limit of angel investors to seek exemption under the Income Tax Act, 1961 has been increased to Rs 50 crore from 10 Crore.

2. An entity shall be considered a start-up up to 12 years from its date of incorporation/registration instead of the previous period of 7 years.

3. An entity would be considered as a startup up to a turnover of Rs 50 crore as against the earlier limit of Rs 25 crore

Correct Code:

1 and 2 only

2 and 3 only

1 and 3 only

1,2 and 3

The investment limit of angel investors to seek exemption under the Income Tax Act, 1961 has been increased to Rs 25 crore from 10 Crore.

An entity shall be considered a start-up up to 10 years from its date of incorporation/registration instead of the previous period of 7 years.

An entity would be considered as a startup up to a turnover of Rs 100 crore as against the earlier limit of Rs 25 crore

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