The proposal is part of the Startup India Vision 2024, prepared by the department to promote the growth of budding entrepreneurs.
Currently, startups comply with a plethora of requirements such as GST filings, tax returns, and other local laws every month, the official said.
Startup India is the flagship initiative of the government, launched in January 2016, which intends to build a strong ecosystem for the growth of startups, to drive sustainable economic growth and generate employment opportunities.
The Startup India action plan provides tax and other incentives.
So far, over 24,000 startups have been recognised by the department. | To read full story, visit https://startuparound.com/read/1573992112.9314942/Startup-India-Vision-2024:-DPIIT-for-cutting-compliance-time-to-just-1-hour-per-month-for-startups?ref=audio_experience