Startup recognition criteria enable DPIIT certification and tax exemptions, subject to investment restrictions and revocation for noncompliance. Entities incorporated or registered in India as private limited companies, partnership firms, or limited liability partnerships qualify as Startups if they meet temporal, turnover and innovation/scalability criteria and are not reconstructions of existing businesses. Recognition is granted by DPIIT upon online application with incorporation proof and a business write-up; the Inter-Ministerial Board may issue tax benefit certificates on application. Recognised Startups may obtain exemption from the share-premium taxation provision if they meet a paid-up capital ceiling, avoid specified asset investments for seven years, and file the required declaration; noncompliance permits revocation with retrospective effect.