Startup India Recognition: Why Every Founder Should Apply
The Startup India initiative by the Department for Promotion of Industry and Internal Trade (DPIIT) is a game-changer for new businesses in India.
1. Key Eligibility Criteria
- Entity Type: Must be a Pvt Ltd, LLP, or Registered Partnership.
- Age: Less than 10 years from the date of incorporation.
- Turnover: Less than ₹100 Crores in any previous financial year.
- Innovation: Business must work towards innovation, development, or improvement of products/processes.
2. The Rewards
- Tax Exemption (80-IAC): Eligible startups can apply for a 100% tax holiday for 3 consecutive years.
- Easier Public Procurement: Relaxed norms for government tenders (No 'prior turnover' or 'prior experience' required).
- Capital Gains Exemption: Investment made by specified funds is exempt from tax.
- Fast-track IP Protection: 80% reduction in patent filing fees and 50% on trademark fees.
3. Self-Certification
Startups are allowed to self-certify compliance for 6 labor laws and 3 environmental laws for a period of up to 5 years.
Ready to register? Let our experts handle your DPIIT application to ensure a smooth approval.