Startup Recognition

WHY REQUIRED

Once an organization or eligible entity registers as a startup at that point have choice to appreciate different advantages which is explicitly reserved for startup recognised entity. New businesses are registered with DPIIT for accompanying the advantages under the Startup India Initiative.

First and chief is the tax exemption under Section 80IAC and Section 56.
There will a lot of income tax benefits for the period of 3 years.
Fast processing of patent applications.
Investment exemptions can be benefited and Concessions on all the capital increment is profitable.
Fund by the legislature to help the new companies.
Self-accreditation and no investigation for a long time.

WHEN REQUIRED

When required The Startup should be joined as a private limited company or registered as a partnership firm or a limited liability partnership. Turnover ought to be not as much as Rs 100 crores in any of the past financial years. When a registered entity has a unique business model then an application can petitioned for startup acknowledgment. By and large it takes around seven days to get approval from DPIIT (Department for Promotion of Industry and Internal Trade). After the incorporation or registration, an entity is eligible for making an application of startup

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Startup Recognition

WHY REQUIRED

WHEN REQUIRED