Startup India

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StartUp India is a one of the central government Program initiated by Department for Promotion of Industry and Internal Trade under the Ministry of Commerce and Industry in India. . Prime Minister Narendra Modi announced this program on August 15 , 2015 . The "Startup India Campaign" encourages entrepreneurial talent in India by offering tax advantages under certain circumstances. Only new startups are eligible for these benefits. Businesses that have been operational for more than 10 years are ineligible for this incentive.

All qualified firms would receive a three-year consecutive tax break on profits under the startup India program.

Eligibility

• is a partnership, limited liability partnership, or private limited company.
• not yet reached their ten-year anniversary of incorporation or registration.
• No fiscal year has a turnover that exceeds 100 crore.
• is not created by the merger, division, or reconstruction of an existing business.
• organization dedicated to improving products and services, conducting research, and creating jobs in India.

Registration

• Companies must first register as a Limited Liability Partnership, Partnership, or Private Limited Company, or incorporate their firm.
• Visit the startup India website after incorporating.
• Complete the form with your company's information.
• Enter the one-time password that is given to your email along with other information about your startup, such as the type of user, name, and stage.
• The Startup India profile is established after these facts are entered.
• once your profile accepted they will issue certificate like this .

Objectives

Ease of Doing Business: The initiative aims to simplify regulatory processes for startups, reducing the bureaucratic hurdles they face when starting and operating businesses.

Startup Registration: Startups can register and obtain various benefits under this scheme, including tax exemptions, easier compliance, and access to government procurement opportunities.

Funding Support: The government has set up funds to provide financial support and venture capital to startups. This includes the creation of the Fund of Funds for Startups (FFS).

Intellectual Property Rights (IPR) Protection: Startup India provides assistance in filing patents and trademarks and offers incentives to encourage the protection of intellectual property.

Incubators and Accelerators: The program supports the establishment of incubators and accelerators to nurture and mentor startups, providing them with access to necessary resources and guidance.

Tax Benefits: Eligible startups can avail of income tax benefits, such as a three-year tax holiday, to encourage entrepreneurship.

Networking and Collaboration: Startup India promotes networking and collaboration among startups, industry associations, and educational institutions to facilitate knowledge exchange and partnerships.

Innovation Hub: The initiative encourages research and innovation through the establishment of innovation hubs and research parks.

References

This article "Startup India" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Startup India. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.

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