Question

Q29) Recently Union Government launched 'Start Up India' campaign. What are the criteria for a company to be eligible for start-up?

i) The firm incorporated should be less than three years old.

ii) Annual Revenue of less than Rs. 25 crore.

• A. a) i, only
• B. b) ii 0nly
• C. c) Both i and ii
• D. d) None

Answer 1

The correct option is B

b) ii 0nly

Ans: B
Explanation: Criteria for a startup:

1. The firm incorporated should be less than five years old.
2. Annual Revenue of less than Rs. 25 crore.
3. Needs to get approval from inter- ministerial board to be eligible for tax benefits.
4. Get recommendation from an Incubator recognized by government, domestic venture fund or have an Indian patent.