DO YOU KNOW BENEFITS OF REGISTRATION UNDER STARTUP SCHEME IN INDIA?

The benefits of registration under the Startup India Scheme are as follows: –

1. Tax Benefits:
   • Income Tax Exemption: The company registered under Startup India Schemes can avail income tax exemption for a period of three consecutive years out of their first ten years since incorporation, provided they are recognized by the Department for Promotion of Industry and Internal Trade (DPIIT).
   • Capital Gains Tax Exemption: Investors in eligible startups may be eligible for capital gains tax exemption if they reinvest the gains in the startup.
2. Reduced Patent Registration Fees and time:
   • Startups can avail a significant reduction in the fees for filing patents, trademarks, and designs, making it more affordable for them to protect their intellectual property.
   • Startups can get faster examination of their patent applications, usually within 2-3 months, compared to the usual waiting period of several years.
3. Access to Funding:
   • Startups can gain visibility and access to various funding opportunities and government schemes to support their growth.
4. Networking Opportunities:
   • Registration provides access to a network of mentors, industry experts, and fellow startups, facilitating knowledge sharing and collaboration.
5. Government Tenders:
   • Startups are eligible to participate in government tenders, which may provide them with business opportunities.
6. Innovation and Research Opportunities:
   • Recognition under the scheme opens up avenues for startups to collaborate with research institutions and gain access to research facilities.
7. Credit Guarantee Fund:
   • The scheme offers credit guarantee to encourage banks and financial institutions to provide venture debt to startups.
8. Incubation and Co-working Spaces:
   • Startups can benefit from the availability of government-sponsored incubators and co-working spaces, providing a conducive environment for growth.
9. Faster Winding Up Process:
   • The process of winding up a recognized startup is faster and less cumbersome, enabling quicker exit for entrepreneurs.