{"id":1910,"date":"2016-01-25T11:38:26","date_gmt":"2016-01-25T06:08:26","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=1910"},"modified":"2022-02-08T14:11:16","modified_gmt":"2022-02-08T08:41:16","slug":"profesional-updates-january-19-2016","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/profesional-updates-january-19-2016\/","title":{"rendered":"Hon&#8217;ble PM Modi launches Startup India Program"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_88 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6abfede06201d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6abfede06201d\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/profesional-updates-january-19-2016\/#Honble_PM_Modi_launches_Startup_India_Program\" >Hon&#8217;ble PM Modi launches Startup India Program<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/profesional-updates-january-19-2016\/#The_following_are_the_Conditions_for_taking_benefit_of_the_Startup_Scheme\" >The following are the Conditions for taking benefit of the Startup Scheme:<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/profesional-updates-january-19-2016\/#8_The_Startup_has_obtained_certification_from_the_Inter-Ministerial_Board_set_up_by_DIPP_to_validate_the_innovative_nature_of_the_business_and\" >8) The Startup has obtained certification from the Inter-Ministerial Board, set up by DIPP to validate the innovative nature of the business and<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000080;\"><strong><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled32.png\" rel=\"attachment wp-att-1662\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1662\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled32-300x124.png\" alt=\"Untitled32\" width=\"826\" height=\"342\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled32-300x124.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled32-768x318.png 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled32.png 771w\" sizes=\"auto, (max-width: 826px) 100vw, 826px\" \/><\/a><\/strong><\/span><\/h3>\n<h2><span class=\"ez-toc-section\" id=\"Honble_PM_Modi_launches_Startup_India_Program\"><\/span><span style=\"color: #000080;\">Hon&#8217;ble PM Modi launches Startup India Program<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff6600;\"><a href=\"https:\/\/carajput.com\/blog\/overview-on-start-up-india-scheme\/\">STARTUP INDIA<\/a>:<\/span>\u00a0<\/strong>Hon&#8217;ble PM Modi launches Startup India Program on Sat, 16 JAN 2016 to boost innovation-based business with many incentives and ease of doing business.<\/p>\n<ul style=\"text-align: justify;\">\n<li><a href=\"https:\/\/carajput.com\/income-tax-services.php\">Income Tax<\/a> exemption for the first 3 years.<\/li>\n<li>Fund of \u20b9 10,000 Crore (with \u20b9 2,500 crores each year) to be invested in Startups in next 4 years and a Credit Guarantee Fund for \u20b9 500 crores each year for the next 5 years.<\/li>\n<li>Capital Gain exemption if Startups invest capital by selling their personal assets.<\/li>\n<li>80% Rebate in registering Patent.<\/li>\n<li>Easy Exits\u00a0in 90 days.<\/li>\n<li>Self-certification compliances.<\/li>\n<li>No kind of Inspection for the first 3 years.<\/li>\n<li>Incubation program to be started in 5 Lac Schools and setting up of 35 new Incubation Centres.<\/li>\n<li>No Govt. intervention in Startups.<\/li>\n<li>A scheme for Women Entrepreneurs is to be announced soon.<\/li>\n<li>A group of lawyers to be set up who will help to resolve Patent related problems for free.<\/li>\n<li>7 New Research Parks to be started with a fund of \u20b9 100 crores each.<\/li>\n<li>Organizing Startup Fest all over India and abroad regularly.<\/li>\n<li>Mobile App-based registration for Startups from April 1, 2016.<\/li>\n<li>Atal Innovation Mission (AIM) for encouraging Innovation among Startups.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"The_following_are_the_Conditions_for_taking_benefit_of_the_Startup_Scheme\"><\/span><span style=\"color: #ff6600;\"><strong>The following are the Conditions for taking benefit of the Startup Scheme:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">1)It must be an entity registered\/incorporated as<\/p>\n<ul style=\"text-align: justify;\">\n<li><a href=\"https:\/\/carajput.com\/services\/private-limited-company-registration.php\">Private Limited Company<\/a> under the Companies Act, 2013; or<\/li>\n<li>Registered Partnership firm under the <a href=\"https:\/\/carajput.com\/services\/partnership-registration.php\">Indian Partnership Act, 1932<\/a>; or<\/li>\n<li>Limited Liability Partnership under the <a href=\"https:\/\/carajput.com\/services\/limited-liability-partnership.php\">Limited Liability Partnership Act, 2008<\/a><a href=\"https:\/\/carajput.com\/services\/limited-liability-partnership.php\">.<\/a><\/li>\n<\/ul>\n<p>2) Five years must not have elapsed from the date of incorporation\/registration.<\/p>\n<p>3) \u00a0Annual turnover (as defined in the Companies Act, 2013) in any preceding financial year must not exceed Rs. 25 crores.<\/p>\n<p>4)Startup must be working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.<\/p>\n<p>5)The Startup must aim to develop and commercialize:<\/p>\n<ul>\n<li style=\"text-align: justify;\">\u00a0 A new product or service or process;<\/li>\n<li style=\"text-align: justify;\">A significantly improved existing product or service or process,\u00a0 that will create or add value for customers or workflow.<\/li>\n<\/ul>\n<p>6)The Startup must not merely be engaged in:<\/p>\n<ul style=\"text-align: justify;\">\n<li>Developing products or services or processes which do not have the potential for commercialization; or<\/li>\n<li>Undifferentiated products or services or processes; or<\/li>\n<li>products or services or processes with no or limited incremental value for customers or workflow<\/li>\n<\/ul>\n<p>7)The Startup must not be formed by splitting up, or reconstructing, a business already in existence.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"8_The_Startup_has_obtained_certification_from_the_Inter-Ministerial_Board_set_up_by_DIPP_to_validate_the_innovative_nature_of_the_business_and\"><\/span>8) The Startup has obtained certification from the Inter-Ministerial Board, set up by DIPP to validate the innovative nature of the business and<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul style=\"text-align: justify;\">\n<li>Be supported by a recommendation (with regard to innovative nature of business), in a format specified by DIPP, from an Incubator established in a post-graduate college in India; or<\/li>\n<li>Be supported by an incubator that is funded (in relation to the project) from GoI as part of any specified scheme to promote innovation; or<\/li>\n<li>Be supported by a recommendation (with regard to innovative nature of business), in a format specified by DIPP, from an Incubator recognized by GoI; or<\/li>\n<li>Be funded by an Incubation Fund\/Angel Fund\/ Private Equity Fund\/ Accelerator\/Angel Network duly registered with <a href=\"https:\/\/carajput.com\/sebi-consulting.php\">SEBI<\/a>* that endorses innovative nature of the business; or<\/li>\n<li>Be funded by GoI as part of any specified scheme to promote innovation; or<\/li>\n<li>Have a patent granted by the Indian Patent and Trademark Office in areas affiliated with the nature of business being promoted.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">* DIPP may publish a \u2018negative\u2019 list of funds that are not eligible for this initiative.<\/p>\n<p style=\"text-align: justify;\">For query or help, contact: <a href=\"mailto:singh@carajput.com\">singh@carajput.com<\/a>\u00a0or call at 9555555480<\/p>\n<p>Popular blog:-<\/p>\n<p><a href=\"https:\/\/www.caindelhiindia.com\/blog\/application-of-gst-on-contribution-by-rwa-members\/\">GST rollout Small Businesses need to file Return<\/a><\/p>\n<p><a href=\"https:\/\/carajput.com\/learn\/how-to-name-your-business-in-india.html\">How to name your business in India?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hon&#8217;ble PM Modi launches Startup India Program STARTUP INDIA:\u00a0Hon&#8217;ble PM Modi launches Startup India Program on Sat, 16 JAN 2016 to boost innovation-based business with many incentives and ease of doing business. Income Tax exemption for the first 3 years. Fund of \u20b9 10,000 Crore (with \u20b9 2,500 crores each year) to be invested in &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9635],"tags":[5,9080,9081,9041,5932],"class_list":["post-1910","post","type-post","status-publish","format-standard","hentry","category-startup","tag-income-tax","tag-indian-partnership-act","tag-limited-liability-partnership-act","tag-private-limited-company","tag-sebi"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.2 - aioseo.com -->\n\t<meta name=\"description\" content=\"Hon&#039;ble PM Modi launches Startup India Program, Startup India Program, benefits of Startup Scheme, Startup India, Turnover in preceding FY Not Exceed Rs.25 cr\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"Rajput Jain &amp; Associates\"\/>\n\t<meta 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