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Eligibility criteria for Startups

Eligibility criteria for Startups

Startup Definition (As defined by DPIIT)

 

Startup means an entity, incorporated or registered in India :

  • Up to 10 years from its date of incorporation / registration
  • Incorporated as either a Private Limited Company (as defined in the Companies Act, 2013) or a Registered Partnership Firm (registered under section 59 of the Partnership Act, 1932) or a Limited Liability Partnership (under the Limited Liability Partnership Act, 2008) 
  • Turnover for any fiscal year since incorporation/registration has not exceeded INR 100 crores
  • Entity should not have been formed by splitting up or reconstruction a business already in existence
  • Working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation

Provided further that a Startup shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, setup for such purpose.