At WINAXIS Advisory, we specialize in assisting startups with their recognition certifications. Each startup is born from a visionary aspiration to introduce groundbreaking products or services previously unseen in the market. In 2017, the Government of India inaugurated the Startup India initiative, providing aspiring entrepreneurs, visionaries, and dreamers a platform to nurture their business ventures.
Startups certified by the DPIIT (Department for Promotion of Industry and Internal Trade) are entitled to benefits in various domains:
- Safeguarding intellectual property rights
- Relaxation in public procurement regulations
- Self-certification compliance with labor and environmental laws
- Access to government funds through startup-friendly funds
- Expedited exit mechanisms for startups
Moreover, DPIIT-certified startups under Startup India can apply for income tax exemption for three out of their first ten years, a notable advantage.
These startups also gain access to an array of valuable resources, including learning and development programs, a centralized repository of information, state-specific startup policies, pro bono services, a knowledge bank, useful tools and templates, networking opportunities, an idea bank, and a variety of programs and initiatives.
Tax Exemption:
After obtaining startup recognition, a startup has the opportunity to apply for tax exemption under Section 80 IAC of the Income Tax Act. This provision allows startups to enjoy tax exemption for three consecutive financial years within their initial ten years of incorporation (eligibility is limited to Private Limited Companies or Limited Liability Partnerships).
At WINAXIS Advisory, we streamline all legal procedures and offer comprehensive consultation to address your specific requirements. Our tailored solutions prioritize the best outcomes for your business, delivering a guaranteed and gratifying service experience.