The Advantages of Becoming the DIPP-Recognized Company
- Another of the advantages of becoming a DIPP certified company is that the firm registered underneath the Startup India Program is free from paying income taxes for three continuous years out of those first ten years from the Indian date of establishment. To take use of this incentive after receiving recognition, any Startup must apply individually to IMB Inter-Ministerial Council.
- Another advantage of having the DIPP-recognized business is that companies are typically backed through angel capital. However, such an investment is taxed. To boost startup financing, the administration has excluded registered companies from any angel investment fee. After the planned share issuing, the tax exclusion has been provided up to full entire sum of paid-up shares capital plus share premium that does not surpass Rs. 25 Crores.
- The selected Startup would be eligible for a fee reduction on Trademark as well as Patent application costs. This type of organization will be eligible to claim the 50percent refund on Trademark registration fees as well as an 80percent reimbursement on Patent registration fees. In addition, the patent registration will be completed promptly.
- When apply for governmental contracts, the candidate must meet the requirements. That must be anything like a minimal capital demand, a turnover necessity, or experience necessity, and so forth. However, when the business is indeed a Startup, this may apply for specific tenders even though this does not meet such standards.
- The government hosts a Startup Festival, where every registered startup may interact with one another. They may share knowledge and build brand value.