The Startup India initiative aims to build a strong ecosystem for nurturing innovation and startups in India. DPIIT recognition unlocks several benefits for eligible startups.
Tax Benefits
Startups recognized by DPIIT can avail income tax exemption under Section 80-IAC for 3 consecutive years out of 10 years since incorporation.
Self-Certification
Startups can self-certify compliance with 6 labour laws and 3 environment laws, reducing regulatory burden.
Other Benefits
Fast-track patent examination, exemption from prior experience criteria in public procurement, access to Fund of Funds, and simplified winding up process.