Startup India Registration Rs. 9999 | Startup India Recognition In India
Startup India Benefits:-
- SELF CERTIFICATION and compliance under 9 environmental & labour laws
- STARTUP PATENT APPLICATION fast track & up to 80% rebate in filling patents
- PUBLIC PROCUREMENT fast track under the criteria of “prior experience/turnover” for startups in all Central Government ministries/departments
- WINDING UP COMPANY in 90 days under insolvency & Bankruptcy code 2016
- INR 10,000 CRORE FUND of funds for investment into startups through Alternate Investment Funds
- INR 2,000 CRORE CREDIT guarantee fund for startups through National Credit Guarantee Trust Company / SIDBI over 4 years
- TAX EXEMPTIONS on Income tax for 3 years
- TAX EXEMPTIONS on capital gains & on Investments above Fair Market Value
Startup Definition (As defined by DIPP)
Startup means an entity, incorporated or registered in India :
- Not prior to seven years, however for Biotechnology Startups not prior to ten years,
- With annual turnover not exceeding INR 25 crore in any preceding financial year, and
- Working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation
Provided that such entity is not formed by splitting up, or reconstruction, of a business already in existence.
Provided also that an entity shall cease to be a Startup if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years and for biotechnology startups 10 years from the date of incorporation/ registration.
Provided further that a Startup shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, setup for such purpose.
An Inter-Ministerial Board setup by DIPP validates the innovative nature of the business for granting tax related benefits.
The Government of India has constituted the Inter-Ministerial Board for the said purpose as follows:
- Joint Secretary, Department of Industrial Policy & Promotion,
- Representative of Department of Biotechnology, and
- Representative of Department of Science & Technology
Are you a Startup?
Up to 7 years and for biotechnology startups up to 10 years from its date of incorporation / registration
Incorporated as either a Private Limited Company or a Registered Partnership Firm or a Limited Liability Partnership
Turnover for any fiscal year has not exceeded INR 25 crore
Entity should not have been formed by splitting up or reconstruction a business already in existence
Working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation