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It is an initiative commenced by the government of India with the motive to catalyze the startup culture and develop a comprehensive and robust ecosystem for innovation. Prime Minister Narendra Modi first declared the Start-up India campaign on 15th August 2015.
The start-up India scheme is focussing on three areas,
After this scheme, India has emerged as the third-largest ecosystem globally with constant annual growth of 12% to 15%. In 2018, India had 50,000 start-ups, while in 2019, India has approximately 8,900 to 9,300 (technology-led start-ups).
India Startups has extended all over India, focusing on encouraging women entrepreneurship and stimulating an inclusive and innovative environment. Further, efforts are made by various stakeholders in the Indian startup ecosystem to uplift the domestic policies in concurrence with global trends.
Start-up India registration provides various benefits such as tax exemption for three consecutive years, fewer trademark registration fees and patent registration, etc.
Self-certification is introduced to decrease the regulatory burden on the startups and allow the firm to focus on the main business.
DPIIT recognized startups that are incorporated within five years.
Startup India Registration Process For Self-Certification
Startup India Registration Process of Section 56 Exemption
Startups can be spared from paying the income tax for three consecutive years from the first ten years since its incorporation.
Startup India Registration Process For Tax Exemption Under 80IAC
Documents Required For Tax Exemption Under 80IAC
Benefits of Startup India registration process
Public procurement refers to how the government and state-owned enterprises procure goods and services from the private sector. Additionally, government enterprises have remarkable purchasing power and the ability to represent the largest markets of startups.
The principal motive of public procurement is to allow business startups to participate in the procurement process effortlessly. Along with that, it enables the startups to approach another potential market for their products.
Benefits of Startup India registration process
Eligibility for Startup India registration process
DPIIT should recognize startups.
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