This to inform you that our firm has commenced a new service i.e. “STARTUP INDIA (DIPP) REGISTRATION” along with other compliances. This scheme was started in the year 2016 by the Modi government with the aim to reduce the regulatory burden on Startups, thereby allowing them to focus on their core business and keep compliance costs low. Under this scheme, new Startups in India can avail of regulatory and tax benefits, capital gains, tax exemptions as well as access to government funding if they fulfill certain criteria.
Please find below some useful information.
|Background & Purpose||· Startup India scheme was launched on 16th January, 2016 by Prime Minister Narendra Modi Ji at Vigyan Bhawan, New Delhi.· The purpose of this scheme is to promote startups, generation of employment and wealth creation.|
|Eligibility Criteria||· The Startup should be in corporate as a Private Limited Company or Limited Liability Partnership or Registered as a Partnership Firm.· Turnover should be less than Rs. 100 crores in any of the previous financial years· An entity shall be considered as a Startup upto 10 years from the date of its incorporation.· The Startup should be working towards innovation/ improvements of existing products, services and processes and should have the potential to generate employment/ create wealth. An entity formed by splitting up or reconstruction of an existing business shall not be considered a “Startup”.|
|Advantages of Registration||· Tax Exemption Ø Tax exemption U/S- 56 of Income Tax actØ Tax exemption U/S- 80IAC of Income Tax act · IPR Govt. Fee Concession· Participate in Various Govt. Scheme· Govt. Funding Opportunity· Easy Winding up· Connect Networks|