Query regarding definition of a startup unit
This query is : Resolved
01 March 2016
Dear Experts,
Kindly provide the definition for a 'startup unit'.
whether filing of Industrial Entrepreneurs Memorandum Part A on 28th Feb 2016 for setting up an industrial unit and filing of Part B on or after 01st March, 2016 for Starting of Commercial Production can be treated as a Startup unit w.e.f 01st March, 2016.
Thanks in advance.
Kindly provide the definition for a 'startup unit'.
whether filing of Industrial Entrepreneurs Memorandum Part A on 28th Feb 2016 for setting up an industrial unit and filing of Part B on or after 01st March, 2016 for Starting of Commercial Production can be treated as a Startup unit w.e.f 01st March, 2016.
Thanks in advance.
Amol S Joglekar
(Expert)
01 March 2016
We need to wait for the budget to be assented by President to answer such a SHARP and exceptional query. The "NEWLY established" was the phrase used so far for extending benefits to assessees so far. Being influenced by USA terms, it seems FM has been forced to use the newly coined word "startup". Better wait a while for intrecacies. (Prima facie, however, your case may be regarded as start up. The cut off date syndrome may be nullified)
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