The authorities on Monday stated it proposes to incentivise incorporation of 1 individual firms (OPCs), a transfer that can profit startups and innovators.
Finance Minister Nirmala Sitharaman stated incorporation of OPCs can be incentivised by permitting such firms “to grow without restriction on paid up capital and turnover, allowing conversion into any other type of company at any time, reducing the residency limit for an Indian citizen to set up an OPC from 182 days to 120 days, and allow also non-resident Indians to incorporate OPCs in India”.
“This will be a big boost for startups,” she stated whereas presenting the primary paperless Union Budget.
Does WhatsApp’s new privateness coverage spell the top in your privateness? We mentioned this on Orbital, our weekly expertise podcast, which you’ll be able to subscribe to through Apple Podcasts, Google Podcasts, or RSS, download the episode, or simply hit the play button beneath.