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<h1>Startup eligibility and tax incentive rules require DPIIT recognition, capital and investment limits, and allow revocation on falsehood.</h1> An entity qualifies as a Startup if incorporated/registered in India as a private limited company, partnership firm or LLP, within ten years of incorporation, with turnover not exceeding one hundred crore and engaged in innovation or scalable business; reconstruction or split companies are excluded. Recognition requires an online application and DPIIT certification based on prescribed documents. Recognised Startups may obtain Board certification for tax benefits and qualify for exemption from deemed income on share premium subject to a paidup capital cap and a sevenyear prohibition on investing in specified asset classes. Certificates can be revoked for false information and exemptions withdrawn retrospectively on breach.