Benefits to look for in Startup India Programme

Startup India Scheme is a programme placed into the orbit by Honorable Prime Minister in January 2016. The objective of this scheme is to provide funds to the state of the artist whose invention is towards innovation and development.

Let us look towards benefits covered under Startup India Scheme:

  • Registration Process Simplified: The government has formed a website and app where one can register directly. You just have to fill the registration form and upload the necessary documents.
  • Cost Reduction: Startup does need a lot of expenses. This scheme will help us to plan a budget. It provides 80% reduction in the total cost of registration of Intellectual Property i.e. in the filing of the patents.
  • Procuring Funds: A policy has been set up the government to provide venture capital to Startup of Rs. 10,000 Crore.
  • Exemption of tax for 3 years: There is no the income tax for a period of 3 years from its incorporation. They also get the certification from the Inter-ministerial Board which proves that they are exempted from giving income tax.
  • Access to Tenders: If you register under Startup India Scheme, you can also apply for the government tenders. Earlier Startups were exempted from the criterion to answer government tenders but now even they can be a participant.
  • Research and Development Facilities: The government of India has decided to launch 7 new research parks to provide facilities for research and development within the startups and help them grow connections and business over time.
  • Easy Exit: In case the startup is doubtful about its existence in the market so it can close its business within 90 days from the date of application of winding up.

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