Apr 142016
 

The benefits of Startup India Scheme are as follows:

  • Late environmental law inspection: only after you self certify yourself, you will be required to comply with the environmental law regulations.
  • Benefits Of Stand Up India
  • No Inspection for 3 years: as per the regulation of this scheme any labor law related inspection will not be carried out on the startups for the first three years
  • High rebate: the startups can now claim up to 80% rebates on patent costs. This means that if the startup applies for a patent, the government will give them an 80% rebate. In addition to that, the government will also be paying the fees of the facilitator that helped the startup to obtain the patent.
  • Faster and cheaper patent obtaining: Under this scheme it is also mentioned that you would be able to obtain patents faster for Intellectual Property Rights (IPRs). Also the procedure for filing patents has been simplified due to this itself. The fees for patents have been reduced as well.
  • Tax exemption: in addition to no inspection, tax emption is also applicable for the first three years. However your startup will be eligible for tax benefits only after you obtain a certificate from the Inter Ministerial Board.
  • Benefits for manufacture sector: if your startup is in the manufacturing sector, there’s good news for you. Under this scheme, the eligibility criteria of having a prior experience or turnover experience to open a business has now be removed – without compromising on the quality of the goods produced.
  • Exemptions on capital gains: tax exemptions on capital gains can now be claimed by the investors under this scheme. The tax exemption regulation which is applicable for newly formed MSMEs will now be extended to all start ups.
  • Easy Registration: earlier the startups had to struggle very much to get them registered. Not anymore. The government will launch a mobile app on 1st April 2016 whereby the registration process will take only a day to complete. Also a web portal will be launched later to give clearances, approvals, etc., in no time.
Serial No. Over view of benefits What and how much?
1 No inspection for 3 years Any labor law related inspection will not be carried out on the startups for the first three years
2 Late environmental law exemption Only after startups self certify themselves, they will be required to comply with the environmental law regulations
3 High rebate The startups can now claim up to 80% rebates on patent costs. The government will also be paying the fees of the facilitator that helped the startup to obtain the patent.
4 Faster and cheaper patent obtaining Also the procedure for filing patents has been simplified. The fees for patents have been reduced as well.
5 Tax exemption Startups will be eligible for tax benefits for 3 years only after obtaining a certificate from the Inter Ministerial Board.
6 Benefits for manufacturing sector The eligibility criteria of having a prior experience or turnover experience to open a business has now be removed.
7 Exemption on Capital Gains Tax exemptions on capital gains can now be claimed by the investors under this scheme.
8 Easy registration Government will launch a mobile app through which the registration process will take only a day to complete.

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