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March 23, 2023

Startup India Recognition and its benefits

Startup INdia recognition
5
Anand splan
Wednesday, 21 August 2019 / Published in COMPONENTS OF STARTUP INDIA, Starting a business, startup business, Startup India

Startup India Recognition and its benefits

Startup India is a flagship initiative of the Government of India, intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship. The main goal of Startup India is to ensure that each startup transforms into a viable business and is able to scale its growth. Keeping this in mind, Startup India recognises startups in order to give them exclusive benefits. 

How to Apply for Startup India

  • Log in to www.startupindia.gov.in, if you are not registered then register first.
Startup India
Startup India Portal
  • Click on Application for recognization of Startup
  • Fill out an application form and upload your company profile.
  • After 2 to 3 days
Role of young entrepreneur in the Indian economy.

A recognized Startup can avail various benefits including:

  • Section 80-IAC of Income Tax benefit: Income Tax exemption for 3 years post-approval from IMB
  • Section 56 of Income Tax exemption benefit: Tax exemption on Investment above Fair Market Value
  • Intellectual Property Rights (IPR) Benefits: : 
    1. Fast-tracking of Startup patent applications
    2. Panel of facilitators to assist in filing of IP applications
    3. Startups are provided an 80% rebate in filing of patents and 50% rebate in filing of Trademarks vis-à-vis other companies
  • Relaxation in public procurements norms: Subject to certain conditions, Startups are entitled to avail exemption with following condition:
    1. Prior Turnover and Experience
    2. Earnest Money Deposit
  • Self-Certification for compliance under certain Labour & Environment laws for a period of 5 years from the date of incorporation
  • Access to Fund of funds for startups: To provide equity funding support for development and growth of innovation-driven enterprises, the government has set aside a corpus fund of 10,000 crores managed by SIDBI
  • Faster exit for startups: MCA has notified Startups as ‘fast track firms’ enabling them to wind up operations within 90 days vis-a-vis 180 days for other companies
  • Recognised startups may raise External Commercial Borrowings up to USD 3 Mn
  • Easier compliances for recognized startups: Requirement to hold 2 board meetings in a financial year in place of 4; allowance to get annual return signed by the director, in case there is no company secretary and many more
How to apply Loan under Startup India

These benefits and resources are available to #StartupIndia recognised Private Limited companies, LLPs and Registered Partnership firms. 

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Tagged under: Company StartUP Services, StartUp, Startup Funding, StartUp India, startup india certificate, Startup Planning

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13:37 20 Aug 19
Providing good Platform Fast and reliable services" Make in India" will Possible.....💯↗🏅💹📈
Abhi Singh
Abhi Singh
04:49 25 Jul 19
Splan gives you best service. Very good at client handling and instan service provider.
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07:12 23 Jul 19
A great service experience... nice team of people.
Sustainable Development & Research Foudation
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04:59 29 Mar 19
Very good service for ngo registration
Subodh Saurabh
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09:08 29 Nov 18
Splan is one of the company which made Accounting so easy that even a layman can operate it effectively. And easily manage his finance.
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16:18 24 Nov 18
All Corporate Solutions under one roof. Quick service and response. Keep it up...
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07:33 24 Nov 18
For trademarks best, Digital marketing, Company Registration, Licensing, FSSI Approval, Homologation Approval, WMI Registration, Vin Designers, Code Design, GST filing, GST enrolling, enrolment, IEC Registration Import Exports Registration, Trust Registration, Society Registration, Any types off Approval and Homologation, Best service and Experience.
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04:11 24 Nov 18
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