DPIIT (Department for Promotion of Industry and Internal Trade)
Under this scheme eligible companies can be recognized as startup by DPIIT in order to host of tax benefits, easier compliance, IPR fast tracking, access to various schemes and programs, and funding opportunities. The importance of the scheme is to form a strong system for encouraging innovation in the country.
This has been done in consonance with the Make in India Campaign. By getting registration under DPIIT
- First and foremost is the tax exemption which any recognised startup can claim.
- There will be lot of income tax benefits for the period of three years.
- Save the money as well as time
- Investment exemptions can be availed.
- Concessions on all the capital gains can be availed.
- Fund by the government to help the startups.
- Self-certification and no inspection for three years.