DPIIT Registration ( Startup registration)
The Startup India Program is an initiative of the Indian government aimed at supporting entrepreneurs and creating jobs through the G2B portal. The Government to Business (G2B) portal is a platform where online requests are made to access a number of government business services. The importance of this methodology is to develop a robust system to drive change in the country.
Conditions for obtaining DPIIT registration must be met
- Must not exceed ten years from the date of the constitution.
- It must include companies with limited liability, registered partnerships, or limited liability partnerships.
- Because of the merger, annual revenue is not expected to exceed Rs 100 million for any fiscal year.
- It cannot be formed by splitting up or rebuilding a sustainable business. New creatures must be formed.
- It must have innovative activities, expansion or improvement of products or processes or services, or should be about job creation and wealth creation for the economy.
Benefits and rewards of the registration
Following are the benefits of getting recognised which will straightaway uplifts the startups:
- First and foremost is the tax exemption which any recognised startup can claim.
- There will be lot of income tax benefits for the period of three years.
- Save the money as well as time
- Investment exemptions can be availed.
- Concessions on all the capital gains can be availed.
- Fund by the government to help the startups.
- Self-certification and no inspection for three years.