Hi Rahu,
With respect to your quey please note the following:
- All new business are not startup as per Startup India scheme. Companies meeting following criteria to be considered eligible for DPIIT startup registration
Company or Limited Liability Partnership or registered Partnership Firm.
Date of incorporation should not exceed 10 years.
The total turnover of the business does not exceed hundred crores rupees in the previous year; and
Original Entity with innovating and scalable business model.
- Benefits of startup registrations:
i. You can comply with various Environment and labour laws only on the basis of self certification.
ii. DPIIT registered startup will get 80% rebate for Patent Application & 50% rebate on other IPR Application.
iii. Tax Exemption under 80IAC (Falling under some criteria's) from Income tax as a whole for the first three years.
iv. Section 56 Exemption:If the money is invested in a fund of funds, the startups can also avail the tax benefit on capital gains.
v. Easy Winding of Company:Winding up of the company can be done in just under 90 days under Insolvency and Bankruptcy Code
vi. Easier Public Procurement Norms