Start up India Scheme

Startup India Scheme is an initiative of the Indian government, the primary objective of which is the promotion of startups, generation of employment, and wealth creation. It was launched on the 16th of January, 2016 by Prime Minister Narendra Modi at Vigyan Bhawan, New Delhi.

Features Of the Scheme

• New-entrants are granted a tax-holiday for three years.
• The government has provided a fund of Rs.2500 crore for startups, as well as a credit guarantee fund of Rs.500 crore rupees.

Eligibility For Startup Registration   

• The company to be formed must be a private limited company or a limited liability partnership.
• It should be a new firm or not older than five years, and the total turnover of the company should be not exceeding 25 crores.
• The firms should have obtained the approval from the Department of Industrial Policy and Promotion (DIPP).
• To get approval from DIPP, the firm should be funded by an Incubation fund, Angel Fund or Private Equity Fund.
• The firm should have obtained a patron guarantee from the Indian patent and Trademark Office.
• It must have a recommendation letter by an incubation.
• Capital gain is exempted from income tax under the startup India campaign.
• The firm must provide innovative schemes or products.
• Angel fund, Incubation fund, Accelerators, Private Equity Fund, Angel network must be registered with SEBI ( Securities and Exchange Board of India).

Link to get registered for Start up India Scheme :

https://startupindia.gov.in/registration.php