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What is the Startup India scheme? Can we be eligible for the scheme if we are a foreign-owned company in India?
Yes, a foreign-owned company in India is eligible for recognition under the Startup India scheme as a DPIIT-recognised startup if:
• Indian company is incorporated as a Pvt Ltd company, an LLP, or a Partnership Firm.
• The company is less than 10 years old from the date of its incorporation.
• The company turnover is less than Rs. 100 crore in any financial year.
• The company is working on innovation, development, and improvement of products/services.
Tip: Benefits include: 3-year income tax holiday, faster IP registration at 80% reduced cost, self-certification under labour laws, and government procurement access. Registration is free at startupindia.gov.in.
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