Revised definition of Startup and procedure for recognition

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....ersession of Gazette Notification No G.S.R.180(E) of Government of India dated 17th February, 2016. Definition An entity shall be considered as a Startup: a) if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limite....

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.... a Startup on completion of seven years from the date of its incorporation/ registration or if its turnover for any previous year exceeds Rupees 25 crores. However, in respect of Startups in the biotechnology sector, an entity shall cease to be a Startup on completion of ten years from the date of its incorporation/ registration or if its turnover for any previous year exceeds Rupees 25 crores. ....

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....mpanies Act, 2013) or a limited liability partnership (as defined under the Limited Liability Partnership Act, 2008) which is incorporated on or after the 1st day of April, 2016 but before the 1st day of April, 2019, and ii. be working towards innovation, development or improvement of products or processes or services, or should be a scalable business model with a high potential of employment ge....