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Which Entity Qualifies as a Start-Up?
What is the Start-Up India Scheme :
Start-up India Scheme is an initiative by the Government of India to build a strong ecosystem that is conducive for the growth of startup businesses and generate large scale employment opportunities, also to build a strong ecosystem that is conducive for the growth of startup businesses.
Documents required for registration:
Benefits of Startup India :
1. Financial Benefits :
Most of the startups are patent based. Under this scheme, the government provides 80% rebate on the patent costs. Moreover, the process of patent registration and related is faster for them. Also, the government pays the fees of the facilitator to obtain the patent.
2. Income Tax Benefits :
The government exempts 3 years income tax post the incorporation year. But they can avail it only after getting a certificate from the Inter Ministerial Board. Also, they can claim exemption from tax on Capital Gains if they invest money in specified funds.
3. Registration Benefits :
Under the Startup India scheme, an application is there to facilitate registration. A single meeting is arranged to at the Start-up India hub. Also, there is a single doubt and problem solving window for them.
4. Government Tenders :
Under this scheme, the startups get priority in getting government tenders. Also, they are not required to have any prior experience.
5. Huge Networking Opportunities :
The government provides networking opportunities by conducting 2 startup fests annually (both at domestic as well as on an international level).
- By Bhaktija Dange