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of <h1>New Startup Criteria: 5 Years Old, Under ₹25 Crore Turnover, Innovation Focus, Certification Needed</h1> An entity qualifies as a startup if it is incorporated within the last five years, has an annual turnover not exceeding 25 crore rupees, and is engaged in innovation or commercialization of technology-driven products, processes, or services. Entities formed by splitting or reconstructing existing businesses are excluded. Startups must obtain certification from an Inter-Ministerial Board to avail tax benefits. Eligible entities include private limited companies, registered partnerships, or limited liability partnerships. Recognition requires submitting an application through a designated portal with supporting documents such as incubator recommendations, funding letters, or patents. False documentation results in fines of at least 25,000 rupees or 50% of the paid-up capital. The notification establishes uniform criteria and procedures for startup recognition under the Startup India initiative and supersedes previous notifications from May 2017.
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