BENEFITS OF STARTUP INDIA SCHEME
3yr Income Tax Exemption
Eligible Startups can be exempted from paying income tax for 3 consecutive financial years out of their first ten years since incorporation.
Easy access to Funds
Under Funds of Funds for Startups Scheme already more than Rs. 1600 crore is invested in 251 Startups.You may be one of the Startups for the remaining Rs. 8,400 crore corpus.
Apply for tenders
Exemption from prior experience or turnover and Security deposit for filing tenders. Opportunity to list Startup products on Government e-marketplace for market visibility.
No Angel Tax up to Rs. 25 crore funding
Investments into eligible Startups by Accredited Investors, Non-Residents, AIFs, closely held listed companies may also be exempted under Section 56 (2) (VIIB) of Income Tax Act, 1961.
No Labour Inspector Raj
No more Labour Law Inspection fear for Startups. Recognised Startups can self manage their PF, ESIC, Gratuity and Environmental Law Compliance through simple self-declaration.
Discount in Trademark and Patents Fees
Fast tracking of Startup Patent application, Upfront 50% discount on Trademark fees, 80% Rebate on Patent filing fees.
Loan from Foreign Investors
Recognized Startups can avail loans from Non-Resident Investors (External Commercial Borrowings-ECB) upto $ 3 million every financial year through simple RBI compliance mechanism.
Eligible for State Govt. Incentives
Like Maharashtra State GST rebate scheme, many other Loan and Rebate Incentives are announced by different State Governments of India.
Fixed Deposits can be accepted
Private Limited can take deposit from its members for a period of five years from the date of its incorporation under the Companies (Acceptance of Deposits) Rules, 2014.
ELIGIBILITY FOR STARTUP INDIA REGISTRATION
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Startup Age
Period of existence and operations should not be exceeding 10 years from the Date of Incorporation
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Startup Type
Incorporated as a Private Limited Company, a Registered Partnership Firm or a Limited Liability Partnership
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Annual Turnover
Should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since its Incorporation
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Original Entity
Entity should not have been formed by splitting up or reconstructing an already existing business
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Innovative & Scalable
Should work towards development or improvement of a product, process or service and/or have scalable business model with high potential for creation of wealth & employment. Company is Offering Innovative products or service.
Documents Require:
- Certificate of Incorporation or Partnership Registration Certificate
- Brief Write up on how the business is working towards: innovation, employment, wealth creation
- Company PAN card
- Website OR Company Profile Deck (Any One)