STARTUP INDIA

Startup India is a flagship initiative of the Government of India (GOI), intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. The action plan of this initiative is focussing on three areas:

1. Simplification and Handholding.
2. Funding Support and Incentives.
3. Industry-Academia Partnership and Incubation.

Under the Startup India initiative, eligible companies can get recognized as Startups by DPIIT, in order to access a host of tax benefits, easier compliance, IPR fast-tracking etc.

Eligibility Criteria for Startup Recognition:

1. The Startup should be incorporated as a private limited company or registered as a partnership firm or a limited liability partnership.

• Turnover should be less than INR 100 Crores in any of the previous financial years.

• An entity shall be considered as a startup up to 10 years from the date of its incorporation.

The Startup should be working towards innovation/ improvement of existing products, services and processes and should have the potential to generate employment/ create wealth. An entity formed by splitting up or reconsutrctuon of an existing business shall not be considered a "Startup"

To ensure that the new business is given the best start, it is imperative to consult an advisor with specialised experience in dealing with startups. They can understand your business plan and advice you on the choice of a legal entity, licenses, funding, taxation and compliance. At NAGPAL & COMPANY (NAC), we have been in the game for long enough. That means we have adequate experience to get things done first.  

The Startup India Scheme is an initiative of the Government of India in 2016. The primary objective of Startup India is the promotion of startups, generation of employment, and wealth creation. The programs under startup India are managed by the Department for Industrial Policy and Promotion (DPIIT). The companies which are registered and recognized by the DPIIT avails various benefits from the Government of India like Tax exemption under Section 80 IAC and section 56, patent support, self-certification and easier compliances under various laws like Labour and Environmental laws, etc.

In order to promote and support entrepreneurs, our team provides subject matter aid to the clients to enlighten them regarding the Startup Scheme so that more and more Startups can be set up in the future and avail the various benefits given to them by the government.

- Recognition Certificate by DPIIT

- Tax Exemption Certificates under section 80 IAC and 56

- Advisory Services regarding Eligibility of Startups India Scheme

- Provides Assistance in all the Compliances