Budget 2016: Profit deduction for startups
Presenting the Union Budget 2016, Finance Minister Arun Jaitley today announced 100% deduction on profits for three out of five years for startups set up between April 2016 and March 2019. The government also allocated ₹500 crore for SC, ST and women entrepreneurs under the 'Start Up India' scheme, and enabled registration of new companies in one day.