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been working in and intend to solve the issues by creating a new company of their own.
to promote the growth of startups in India. The initiative was announced on 16 January 2016 in New Delhi.
let us look into what all companies qualify as a Startup in India.
As per the guidelines of DPIIT guidelines, a recognised start-up gets the following benefits:
1. Self-Certification: For Compliance under 9 environmental & labour laws
2.Tax Exemption: Income Tax exemption for a period of 3 consecutive years and exemptions on capital gains & investments above Fair Market Value.
3. Easy winding up of company: Within 90 days under insolvency & Bankruptcy code 2016.
4. Startup Patent Application and IPR protection: Fast track & up to 80% rebate in filing patents.
5. Easier Public Procurement Norms: Exemption on EMD and minimum requirements. Get listed as a seller!
6. SIDBI Fund of Funds: Funds for investment into startups through Alternate Investment Funds.
Certificate of Incorporation as Private Limited Company Or
Certificate of Incorporation as LLP Or
Certificate of Registration as a Partnership
Permanent Account Number (PAN)
MSME Registration Number
Details of Directors / Partners
Profile of Promoters
A detailed write up on the Start-Up
The startup must meet the following eligibility criteria to avail the DPIIT Certificate of Recognition:
An entity incorporated as a Private Limited Company, Partnership Firm or a Limited Liability Partnership can register themselves under the startup India scheme. The annual turnover of these business entities should not exceed Rs.100 crores, and they should have been in existence for up to ten years from the date of its incorporation/ registration. Such an entity should be working towards innovation, development or improvement of products or services or processes.
A startup defined as an entity that is headquartered in India, which was opened less than 10 years ago and has an annual turnover of less than ₹100 crores (US$14 million).
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