Advisory Services
Audit
Consulting
ESG Advisory
RBI Registration
SEBI Registration
IRDA Registration
FEMA Advisory
Compliances
IBC Services
VCFO Services
Growing
Developing
ME-1
ME-2
EU-1
EU-2
SE
Others
Select Your Location
The government of India with the primary objective of promoting the startups in India, has introduced the Startup India Scheme, an initiative taken by the Prime Minister Narendra Modi. The primary objective of the Startup India Scheme is –
Table of Contents
Eligible startups are allowed to avail all the benefits and exemption in taxation. To be qualified as Eligible startups, it must fulfill the following conditions-
Startup company post getting incorporation can apply for tax exemption under section 80 IAC, Section 56 of the Income Tax Act. The startup can avail the benefits of tax for 3 Financial years out of its first 10 years since incorporation.
The startup must be Private limited company or Limited liability Partnership and have been incorporated after 1ST April 2016 along with that the entity should be a recognized setup.
If the annual turnover exceeds 100 crores, the startup is eligible for 100% tax rebate on profits for a period of 3 years in a period of 7 years.
For availing the exemption under section 56, the entity should a DPIIT Recognized.
Exemption under section 54EE is available for the eligible Startupson long term capital gains, if LTCG is invested in a fund notified by central government within a time duration of 6 months from the date of transfer of asset.
The tax has been exempted by the government levied on the investment above the fair market value. Investments made by the resident angel investor or funds which are not registered in Venture capital fund is exempted.
Government has provided various benefits to the eligible startups mentioned below –
This scheme helps in making investments in agribusiness projects through financial participation. Persons like farmers, Producers, partnership/ proprietorship, companies, Agripreneurs which avails the financial support for the preparation of DRR (Detailed Project reports) through product development authority.
This scheme provide financial support to MSMEs and new technology setup for filing international patent which as a result encourages the innovation with the capturing growth opportunities in the ICTE SECTOR.
Through stand-up scheme, the government facilitate the bank loan between 10 lakhs to 1 crore to –
a. One schedule caste or
b. One schedule Tribe and 1 woman per bank branch for establishing greenfield enterprises.
The government has started an initiative for supporting that are new and risky. The proposal if successful expected to have a high shift influence on Science technology. It is worked under Science and Research Board under the Department of Science and Technology.
Registration with NSIC under Single Point Registration Scheme for all MSME and UAM enterprises.
Government of India has taken an initiative by announcing the action plan that represents and addresses all the aspects of the Startups with the purpose to accelerate the growth of startups in a very simplified way. This initiative helps in funding and innovations. With the help of start-up India, it provides a platform to the stakeholders to interact amongst each other to form a successful partnership in a dynamic environment.
Also Read: Startup India Registration Process – The Complete Guide
Experienced Finance and Legal Professional with 12+ Years of Experience in Legal, Finance, Fintech, Blockchain, and Revenue Management.
Black money has been the subject of heated political debate in India for a long time. Successiv...
The Apex Court pronounced a judgement in the case titled Tata Motors Vs The Brihan Mumbai Elect...
Since economies are moving towards digitalisation and making it feasible to conduct transaction...
The Alternative Investment Funds (AIFs) Pro-rata and Pari-Passu Rights Proposal Consultation Pa...
The Financial Action Task Force, i.e. FATF (the Force), is the global money laundering and terr...
Advance tax refers to the payment of the tax liability before the end of the relevant financia...
On 11.12.15, the Hon’ble Delhi High Court (HC) pronounced a landmark judgement in the case ti...
Money laundering can be defined as the process of illegal concealment of the origin of money ob...
Every assessee in India is obligated to file an income tax return and make the timely payment o...
In the recent past, India has seen burgeoning demand for internet and smartphones. The rapid ri...
Are you human?: 6 + 3 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
Infrastructure and real estate have been regarded as India's "sunshine sector" since the turn of the century and ha...
26 May, 2023
The United Arab Emirates (UAE) is one of the most business-friendly jurisdictions in the world, which happens to be...
09 Sep, 2022
Red Herring Top 100 Asia enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 2000 privately financed companies each year in the Asia. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi and YouTube would change the way we live and work.
Researchers have found out that organization using new technologies in their accounting and tax have better productivity as compared to those using the traditional methods. Complying with the recent technological trends in the accounting industry, Enterslice was formed to focus on the emerging start up companies and bring innovation in their traditional Chartered Accountants & Legal profession services, disrupt traditional Chartered Accountants practice mechanism & Lawyers.
Stay updated with all the latest legal updates. Just enter your email address and subscribe for free!
Chat on Whatsapp
Hey I'm Suman. Let's Talk!