2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Department of Internal Trade
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Department of Industry and Internal Trade
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Department of promotion of Industry and Internal Trade
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Department of Industrial Promotion and Policy
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Detailed explanation-1: -Yes, the Department of Industrial Policy & Promotion (DIPP) was renamed as the Department for Promotion of Industry and Internal Trade (DPIIT).
Detailed explanation-2: -Get recognized as a startup by the Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce and Industry. Once you get recognized you may avail multiple benefits from the Govt. incl. Eligibility to apply for Income Tax Exemption for three (3) years.
Detailed explanation-3: -The Department of Industrial Policy & Promotion (DIPP)is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives. It is responsible for the overall Industrial Policy.
Detailed explanation-4: -The startups under DIPP registration can get exemption from income tax payment for 3 consecutive years from the date of incorporation. For this purpose, the startup must have the approval from IMB Inter-Ministry Board. The benefit is available for the startups incorporated on or after 1st April 2016.