BUDGET : PART 2

 Last week we saw a few things in the new budget

Now we will conclude this with a few things which will impact us positively soon.

As the startup ecosystem is being developed by the government, the system took only one view of funding, and then the tax regime came into the picture, for the exit of the funding organization.

But one thing which is not gone with the regime is that in case of failure of enterprise what will be implications.

Till now we are seeing most of the startups are proprietorship concerns, in case of failure funding agencies do not take it as a genuine failure but they start their usual recovery process with criminal proceedings.

In the budget, LLP is being a failure will not be a criminal offense.

It will be a civil offense, which will encourage more people to take risks. The risk and reward theory always works in its own way.

One major announcement is that one person company notification will be issued shortly.

There will be compliance, as more compliance more the cost associated with it.

Let's wait for it. But it will change the nature of business as more companies will be formed with minimum liability.

So the ecosystem of startups will work with minimum liability.