Start UP India Registration issued by DPIIT ( Department for Promotion of Industry and Internal Trade ) this scheme was launched in 2016. the Startup India Initiative has rolled out several programs with the objective of supporting entrepreneurs, building a robust startup ecosystem and transforming India into a country of job creators instead of job seekers. These programs are managed by a dedicated Startup India Team, which reports to the Department for Industrial Policy and Promotion (DPIIT).

Key Pillars of Support for Startups

Easier compliance, easier exit process for failed startups, legal support, fast tracking of patent applications and a website to reduce information asymmetry.

Exemptions on Income Tax and Capital Gains Tax for eligible startups; a fund of funds to infuse more capital into the startup ecosystem and a credit guarantee scheme.

Creation of numerous incubators and innovation labs, events, competitions and grants.

Following are the basic requirement for Startup India Registration

• Period of existence and operations should not be exceeding 10 years from the Date of Incorporation

• Incorporated as a Private Limited Company, a Registered Partnership Firm or a Limited Liability Partnership

• Should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since its Incorporation

• Entity should not have been formed by splitting up or reconstructing an already existing business

• Should work towards development or improvement of a product, process or service and/or have scalable business model with high potential for creation of wealth & employment