Key Initiatives
The Department for Promotion of Industry and Internal Trade (DPIIT) through the Startup India initiative has executed various projects and undertaken recurring models to propel the Indian Startup Ecosystem.
BHASKAR
Bharat Startup Knowledge Access Registry, BHASKAR, is envisioned as a one-stop digital platform where diverse startup ecosystem stakeholders can seamlessly connect and collaborate, catalysing the growth and success of the startup ecosystem across India. By providing a comprehensive platform for connection, knowledge sharing, and searchability, BHASKAR aspires to empower entrepreneurs and ecosystem stakeholders at every stage of their journey, driving forward a culture of innovation that propels India to the forefront of global entrepreneurship.
Eligibility Criteria for Startup India Registration:
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Type of Entity: Your business must be registered as a Private Limited Company, Limited Liability Partnership (LLP), or a Registered Partnership Firm.
- Unfortunately, Proprietorship firms are not directly eligible under Startup India.
- However, you can convert your proprietorship into an LLP or a Private Limited Company and then apply.
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Age of the Business: Your entity should not be older than 10 years from the date of incorporation.
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Turnover Limit: The annual turnover should not exceed ₹100 crores in any financial year since incorporation.
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Innovation & Scalability: The startup should be working on innovation, development, or improvement of products/services/processes and have the potential for employment generation and wealth creation.
Key Benefits of Startup India Registration
✅ 1. Tax Exemptions (Biggest Benefit!)
- 3 Years of Income Tax Exemption
- Startups recognized by DPIIT can apply for a 100% tax exemption for 3 years under Section 80 IAC of the Income Tax Act.
- This means NO income tax for 3 years, reducing financial burden.
- Angel Tax Exemption (Section 56 Exemption)
- If investors fund your startup, you won’t pay Angel Tax on their investment.
✅ 2. Easier Compliance & Regulatory Relaxations
- Self-Certification for Labor & Environmental Laws – Reduces legal hassle.
- No Inspection for First 3 Years – You won’t be randomly audited by government officials.
✅ 3. Government Funding Support
- SIDBI Fund of ₹10,000 Crores
- The government funds selected startups through banks and venture capitalists.
- Priority for Government Tenders
- Registered startups don’t need prior experience to apply for government contracts.
✅ 4. Intellectual Property (IP) & Trademark Benefits
- 80% Rebate on Patent Filing Fees
- 50% Discount on Trademark Registration Fees
- Faster Patent Examination
✅ 5. Easier Winding Up
- If your business doesn’t work out, you can shut down within 90 days, instead of long legal procedures.
