Our Firm Deepali A. Sadavarte and Associates provides advisory and compliance services in connection with Startup scheme of Government of India
Link to Government site for startups in India : https://www.startupindia.gov.in/
Under the Startup India initiative, eligible companies can get recognised as Startups by DPIIT, in order to access a host of tax benefits, easier compliance, IPR fast-tracking & more
There is an eligibility criteria to be considered for DPIIT startup recognition:
DPIIT meaning Department for Industrial Policy and Promotion
Company Age
Period of existence and operations should not be exceed 10 years from the Date of Incorporation
Company Type
Incorporated as a Private Limited Company, a Registered Partnership Firm or a Limited Liability Partnership
Annual Turnover
Should have an annual turnover not exceeding Rs. 100 crores for any of the financial years since its Incorporation
Original Entity
Entity should not have been formed by splitting up or reconstructing an already existing business
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
- Self-certification: Startups shall be allowed to be self-certify compliance for 6 Labour Laws and 3 Environmental Laws through a simple online procedure
- Startup Patent Application & IPR Application: Patent applications filed by startups shall be fast-tracked for examination so that their value can be realized sooner
- Tax Exemption under section 80IAC of Income Tax Act
- Exemption under Section 56 of Income Tax Act
- Easy winding up of company
- Opportunity to list your product on Government e-Marketplace