The Government of India has announced the Start-up India Scheme on 16 January 2020. The purpose of this scheme is to increase the growth and invention of products and services and generate employment and new ideas for better India. Here on this page, we have provided complete details of the said scheme. You are suggested to check the eligibility benefit, exemptional, and other essential information from this page. You can do the online registration for the Start-up India Scheme by going through the official portal startupindia.gov.in. Let’s go through the below information and the scheme.
Startup India Scheme-Benefits
- Tax Exemption of three years
- Availability of the funds easily
- Half IPR fees
- A priority of government tenders and other schemes
- There will be a rebate of 80% in patent fees
- Trademark will be available at 50% discount
- Easy loan available from a foreign investor.
- And there are many other benefits available under Start-up India Scheme
Startup India Scheme- Eligibility
- Business must be a private limited corporation/LLP/OPC or registered partnership firm.
- Your company incorporation/registration date must be within ten (10) years.
- The turnover of your corporation should not be more than 100 crores.
- Your corporation should in the business on innovative services or products. Or have a business to generate a good number of employment prospects. Or you have a business which helps in wealth creation.
Stages When You Apply For The Startup India Scheme
- Ideation Stage- If you have a good idea for the products or services, you can apply.
- Validation Stage- Of your corporation has built within an MVP that is minimum value products.
- Early Traction
- Scaling- If your corporation generates justifiable revenues.
Startup India Scheme- Online Registration
- Open the official website startupindia.gov.in
- Now you have to press the appropriate link to fill the registration form.
- Thereafter fill the basic details like legal entity name, address, state name with pin code, registration number of the corporation, Pan number, name of authorized entity and details, director/partners derails, etc.
- After that, you have to provide the required documents like certificate of incorporation, Pan card, letter of accommodation. All the documents are required to be submitted in PDF format.
- You also have to provide that you want to take tax benefits or not.
- Finally, submit the filled application form as per the rules.
- Now you will get the recognition number.
- After that, verification of your application form and documents will be done.
- Finally, a certificate of recognition will be issued to you.
Startup India Scheme-Exemptions
If you have selected the option of tax exemption while filling the form, then you will surely get the exemption under section 80-IAC. For the tac deduction you have to approach “Inter Ministerial Board”.