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Government - announced initiative for creating a conducive environment for ‘Startup India’

Allied Laws - G.S.R. 180(E). - Dated:- 17-2-2016 - MINISTRY OF COMMERCE AND INDUSTRY (Department of Industrial Policy and Promotion) NOTIFICATION New Delhi, the 17th February, 2016 G.S.R. 180(E).-The Government of India has announced Startup India in .....

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ered as a startup - a) Up to five years from the date of its incorporation/registration, b) If its turnover for any of the financial years has not exceeded ₹ 25 crore, and c) It is working towards innovation, development, deployment or commerci .....

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ther that in order to obtain tax benefits a startup so identified under the above definition shall be required to obtain a certificate of an eligible business from the Inter-Ministerial Board of Certification consisting of: a) Joint Secretary, Depart .....

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of its incorporation/registration or if its turnover for any previous year exceeds ₹ 25 crore. 2. Entity means a private limited company (as defined in the Companies Act, 2013), or a registered partnership firm (registered under section 59 of t .....

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yment or commercialization of new products, processes or services driven by technology or intellectual property if it aims to develop and commercialize: a. A new product or service or process, or b. A significantly improved existing product or servic .....

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ocesses, or c. products or services or processes with no or limited incremental value for customers or workflow would not be covered under this definition. 5. The process of recognition as a startup shall be through mobile app/portal of the Departmen .....

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cy and Promotion, from any Incubator established in a postgraduate college in India; or b) a letter of support by any incubator which is funded (in relation to the project) from Government of India or any State Government as part of any specified sch .....

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of not less than 20 per cent in equity by any Incubation Fund/Angel Fund/Private Equity Fund/Accelerator/Angel Network duly registered with Securities and Exchange Board of India that endorses innovative nature of the business. Department of Industri .....

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