Decode Criteri1

1. Decode Criteria: Eligibility for Startup India Registration Startup India is a great initiative of the Government of India to promote and develop innovation and the skills of entrepreneurship of the people. It basically aims to provide a platform for budding entrepreneurs to accelerate their dreams and build their own business platform. In order to meet the Eligibility for Startup India Registration, certain criteria need to be fulfilled and that is going to clarify in this article. The main vision of Startup India is “to move India towards becoming one of the most vibrant startup ecosystems in the world”. It provides many useful benefits to startups, such as Tax Exemptions, Financial Support, etc. In order to obtain these benefits, the first mandatory thing to do is to register your startup under the Startup India scheme. Eligibility for Startup India Registration: Conditions A startup should fulfil certain conditions to be eligible for registration under the Startup India scheme. Here is the complete information about the eligibility for Startup India registration.

2. •Age of the Applicant: The very first thing is the age of the person who is applying for the Startup Registration. It is to be noted that any Indian citizen who is of the age of 18 and above 18 can apply for the Startup India scheme. In order to get into further eligibility criteria this must be satisfied first. •Age of the Firm: Once the applicant is eligible and eligible to register next comes the age of the firm. It means that the date of Incorporation of the company or the startup should not exceed ten years. •Type of Company: The Company should have been incorporated either as a Private Limited Company or as a Limited Liability Partnership (LLP). After the startup is registered, a startup can either be incorporated as a Private Limited Company or as a Limited Liability Partnership (LLP). There are other two options for incorporation as a One Person Company (OPC) or Sole Proprietorship. These two options are mostly excluded, it is because they are not that good at attracting the investment of the company. Hence, the startup should be either incorporated as a Limited Liability Partnership or a Private Limited Company. •Annual Turnover: In order to get eligible, the annual turnover of the startup should not exceed Rs.100 crore in any financial year and also from the date when the startup got incorporated. •Original Entity: Original entity means when the company initially formed it should be original and not be part of any existing company or it should not have formed splitting up from the existing company. •Innovative & Scalable: Innovation is not only playing a major role in a Startup, it works out in all areas. Innovation in a startup means, it should have a plan for improving or developing the products, services, and processes and it is essential to have a scalable business model with great potential in order to create good wealth and employment in the Startup. •Registration and Approvals: •It is very necessary for Startups to obtain the approval from Department for Promotion of Industry and Internal Trade (DPIIT).

3. •It is also necessary to get a funding letter from the state government or the central government for any scheme to promote the innovation of the startups. As previously stated, Startup India is a Government of India program to encourage and assist the growth of businesses in India. It offers companies a variety of incentives, including tax breaks, financial assistance, and access to incubators. Startups must register with the Startup India program to receive these incentives.