TMI BlogSupersession Notification No. G.S.R. 180 (E) dated 17th February, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... session 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 (u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i. An entity shall cease to be a Startup on completion of seven years from the date of its incorporation/ registration or if its turnover for any previous year exceeds ₹ 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 ye ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . be a private limited company (as defined in the Companies 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 scala ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cognition is found to have been obtained without uploading the relevant documents or on the basis of false information, DIPP reserves the right to revoke the recognition certificate and certificate of an eligible business for tax benefits immediately without any prior notice or reason. Effect This notification shall come into effect on the date of its publication in the Official Gazette. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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