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Startup definition (As defined in Jharkhand Startup Policy)

(only for the purpose of Government schemes)

Startup means an entity, incorporated or registered in Jharkhand:

  • Not prior to seven years, however for Biotechnology Startups not prior to ten years,
  • With annual turnover not exceeding INR 25 crore in any preceding financial year, and
  • Working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation

Provided that such entity is not formed by splitting up, or reconstruction, of a business already in existence. Provided further that a Startup shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, setup for such purpose.

The entity accredited/certified as a Startup by Department of Industrial Policy & Promotion, Government of India, shall be considered as an eligible Startup for availing benefits under this policy only if the Startup starts one or more of its business operations/ production facility in Jharkhand. Provided that a startup shall be eligible for tax benefits only after it has obtained certification from the “State Evaluation Board”, setup for such purpose.

Entity: Private Limited Company (under The Companies Act, 2013) or a Registered Partnership Firm (under The Indian Partnership Act, 1932) or Limited Liability Partnership (under The Limited Liability Partnership Act, 2008).

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