If any one having experience in start up formation request you to share your feedback on my below query
Can a startup operate without having purchased it's own plant and machinery and taking the manufacturing facility on hire from other company considering section 80 IAC and startup qualifications condition
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Start up related issue
Replies (5)
Start up company should not be created out of splitting up or re-construction. that means it should be a brand new one.
here your company can be new one but
if a company taking the facility of other company means it is using existing facility so the purpose not served that means to create extra production facilities govt might have introduced this section.
if you are hiring machinery from a machinery hiring business company then it is okay. if you are hiring from existing company which is in your line of business then it is not okay.
this is purely my understanding do not take it as conclusive as final answer may vary.
lets wait for other answers also.
START UP HAS SEPERATÈ REDTRICTION AND SEPERSTE SET OF PROCEDURES.
GOVT. HAS IN DETSILED LAID DOWN START UP REQUEST
GOVT. HAS IN DETSILED LAID DOWN START UP REQUEST
Sir we are not hiring from existing company.. the hiring company will give the machine on hirw to the start up company
your start is completely complying with the requirements of 80IAC. there is no such stipulation regarding owning plants and machines. you may hire it from any company(including related persons).
Sir, just wanted to know are there any restrictions that startup has to own assets and generate revenue and production.
since, we would be using the assets of a company for manufacturing purpose would it not give impression that the same is restructuring
since, we would be using the assets of a company for manufacturing purpose would it not give impression that the same is restructuring
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