Stand-Up India and Startup India may operate on the same principles but the difference between them is really significant. ![]() Learn more about – What Is Startup India Scheme? Know The Scheme Details, Eligibility Criteria And List Of Advantages How are Stand-Up India and Startup India Schemes Different from Each Other? 25 crores, they can be liable to zero income tax for a duration of three years starting from the year of incorporation. Also, providing the company’s annual turnover does not exceed Rs. These benefits consist of getting an 80% refund for your patent costs and the covering of all the fees to obtain the patent. But if it does, then you can accept the full benefits of the Startup India Scheme. Your company will only be considered as a startup if it fulfills the above criteria. ![]() Ensuring the business is not the result of splitting or reframing a pre-existing business.Ensuring the company is working on an innovative product or service and not on something that already exists commercially.Ensuring the company hasn’t had an annual turnover exceeding the set amount of Rs.Ensuring the company has not finished 10 years after being registered.Ensuring the company is registered as owned privately by partners or a single individual.There are various criteria involved to ensure this and the major ones are – However, the major takeaway is that the scheme is only applicable to your business if it qualifies as a startup in the government’s eyes. Startup India Scheme is aimed to help individuals or companies that have recently established their own startups by better financing, including tax exemptions, and ensuring the process of creating a startup in India is straightforward and simple. While Stand-Up India and Startup India are quite similar in that they both offer economical benefits to entrepreneurs, Startup India is vastly different because of a few reasons. Learn more about – What is Stand-Up India Scheme? How To Apply, Scheme Details, Benefits, Eligibility & Application Requirements What is the Startup India Scheme? Additionally, you also need to ensure that you do not default in any of the banks or financial institutions. You cannot apply for projects other than greenfield projects, i.e., projects that are established on pre-existing land or buildings and do not cause the breaking of buildings. However, you can only apply for this scheme if you belong to the SC/ST category and/or are a female entrepreneur who has completed the minimum age of 18 years. ![]() What’s better is that the repayments don’t leave a massive dent in your income because of the minimal interest rate offered by the bank. The loan is composite in nature and has a sufficiently long repayment period of 7 years with a moratorium of 18 months. These loans cover up to 3/4th of the project costs of the business ventures as long as the borrower is willing to fund 10% of the costs by themselves. There are several Stand-Up India and Startup India differences like these and their motives differ vastly. In this aspect, Stand-Up India and Startup India schemes differ greatly since Stand-Up India scheme recipients are given funds directly instead of allowing them better conditions of establishing ventures. These individuals are provided special loans that can range anywhere from Rs.10 lakhs to Rs. The government has started the Stand-Up India Scheme to provide a business opportunity to individuals who are either females and/or belong to the SC/ST category and need monetary funds to start their greenfield business ventures. To get rid of this confusion and doubt, we will be going through each scheme, its criteria, benefits and then compare their differences with each other. Many also think they both are the same despite the fact that Stand-Up India and Startup India differences are quite prominent. That being said, many people are still confused about both of the schemes and have no idea how they operate. One focuses on the minorities of the country and provides them an opportunity to establish their own business ventures and the other inspires the young and creative minds of the country to start their own startups and encourage new business ideologies. While they are essentially very similar, they both have very different agendas and target a very specific group of people. Stand-Up India and Startup India are two of such schemes that are specifically made for the entrepreneur minds in the country looking to start their own business enterprises. ![]() The Indian government regularly issues various schemes to help the citizens of the county and boost the economy to new heights.
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