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Over 1 55 lakh companies incorporated last fiscal in India

Over 1.55 lakh companies incorporated last fiscal in India SECTIONS Last Updated: Apr 01, 2021, 08:00 PM IST Share Synopsis Besides, 42,186 Limited Liability Partnerships (LLPs) were incorporated in the just-concluded financial year. The figure represents an increase of around 17 per cent compared to the same period a year ago. Agencies Among others, the Central Registration Centre (CRC) continued to function even during the lockdown to enable stakeholders to incorporate companies and LLPs, as per the release. More than 1.55 lakh companies were incorporated in the country in 2020-21, a significant jump of 27 per cent compared to the year-ago period since the coronavirus pandemic had disrupted economic activities last fiscal.

Budget 2021: Few hits, many misses for IT sector, startups

Express News Service BENGALURU: The Union Budget 2020-21 scored few hits but  had many  misses when it comes to India’s IT/ITES industry and startup sectors.  The Modi government’s digital first approach right from Rs 50,000 crore allocation for  R&D to digital census did find praiseworthy mentions among tech industry leaders, however the expectations of more policy related clarity on companies working out of Special Economic Zones, tax rebates, employee related measures were found amiss.  Although Finance Minister Nirmala Sitharaman’s claim of a big boost to startups by extending the tax holidays till March 31, 2022, is perceived as an worthy move, the announcement came with a rider that only those firms registered with Inter Ministerial Board (IMB) would be able to claim the benefit.

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