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IS YOUR COMPANY A STARTUP ?
YOUR COMPANY MUST MEET THE FOLLOWING CRITERIA TO BE CONSIDERED ELIGIBLE FOR STARTUP REGISTRATION:
1. Company Age:
A Company can be recognized as Startup if 10 years has not elapsed from the date of incorporation.
2. Company Type:
Following three type of entities can be recognized as Startup-
a) Private Limited Company,
b) Limited Liability Partnership Firm (LLP) and
c) Registered Partnership Firm.
3. Annual Turnover:
Should have an annual turnover not exceeding Rs. 100 Crore for any of the financial years since incorporation.
4. Original Entity:
Entity should not have been formed by splitting up or reconstructing an already existing business.
5. Innovative and 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.
BENEFITS
Following are the benefits of Startup Registration / Department of Promotion of Industry and Internal Trade recognition:
1. Self certification under 3 environmental & 6 labour laws.
2. Income tax exemption.
3. Up to 80% rebate in filing patents.
4. Easier public procurement norms.
5. Easy winding up.
FEES
There is no government fee for Startup Registration. However, a professional fee Rupees 3,000/- shall be charged by us for processing the entire application.
