Product: Engineering Corrugated board
Only for the purpose of Government schemes.
Startup means an entity, incorporated or registered in India:
- Not prior to seven years, however for Biotechnology Startups not prior to ten years.
- With annual turnover not exceeding INR 25 crore in any preceding financial year, and Working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
- Working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
- Provided that such entity is not formed by splitting up, or reconstruction, of a business already in existence. Provided also that an entity shall cease to be a Startup if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years and for biotechnology startups 10 years from the date of incorporation/registration. Provided further that a Startup shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, setup for such purpose.
Under the Startup India Action Plan, startups that meet the definition as prescribed under the G.S.R. notification 180 (E), are eligible to apply for recognition under the program. The Startups have to provide support documents, at the time of application.
Find out more how you can apply and get recognized here:
Are you a Startup?
- Up to 7 years and for biotechnology startups up to 10 years from its date of incorporation / registration.
- Incorporated as either a Private Limited Company or a Registered Partnership Firm or a Limited Liability Partnership.
- Turnover for any fiscal year has not exceeded INR 25 crore.
- Entity should not have been formed by splitting up or reconstruction a business already in existence.
- Working towards innovation, development, deployment or commercialization of new product, processes or services driven by technology or intellectual property.
- SELF CERTIFICATION And compliance under 9 environmental & labor laws.
- STARTUP PATENT APPLICATION Fast track & up to 80% rebate in filling patents.
- PUBLIC PROCUREMENT Fast track under the criteria of “prior experience/turnover” for startups in all Central Government ministries/departments.
- WINDING UP COMPANY In 90 days under insolvency & Bankruptcy code 2016.
- INR 10,000 CRORE FUND Of funds for investment into startups through Alternate Investment Funds.
- INR 2,000 CRORE CREDIT Guarantee fund for startups through National Credit Guarantee Trust Company / SIDBI over 4 years.
- TAX EXEMPTIONS On Income tax for 3 years.
- TAX EXEMPTIONS On capital gains & on Investments above Fair Market Value.
For Registration, http://startupindia.gov.in