Startup India is the flagship initiative the Government of India has taken toward building a robust ecosystem to foster innovation and startups. It stands toward sustainable economic growth and large-scale job opportunities. Some of the most vital Startup India benefits are substantial tax savings in India.
In the case of a start-up for tax exemption, it requires a business to get DPIIT certification prior to availing that exemption. DPIIT grants such certification to affirm that the firm in consideration qualifies as an eligible start-up.
Some of the important Tax Advantages available to startups under Startup India:
In addition to tax benefits, there are many more benefits also for Startup India registration:
The Startup India registration process is quite an online easy process. Here are steps for such registration.
1. Register your company:You may either register the business in the form of private limited, or as a partnership firm or as LLP.
2. Apply to DPIIT: Login to the web portal of Startup India. Fill in the application along with requisite documents.
3. DPIIT certificate:After that, a recognition number will be given along with the DPIIT certificate.
To optimize the tax saving in India under the wing of Startup India, the following are needed:.
Startup India is that very opportunity for the new ventures to reduce taxes in India and fuel their growth by learning about the benefits of Startup India, availing facilities offered by tax exemptions & Seed Funding for startups to lessen the taxes and focus more on coming out with innovative and successful projects. So, if you are a budding entrepreneur then, apply for the scheme of Startup India to reap its fruits.
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