Govt to cut fines by 50% for startups incorporated as LLPs: Report

The government is set to announce a 50% cut in penalties for nearly a dozen offences by startups incorporated as limited liability partnerships (LLPs), Hindustan Times reported. Quoting an official, the publication said startup LLPs will have to be recognised by the DPIIT to avail of this relief. The offences reportedly include non-compliance relating to requirements of filing statutory documents.