Ministry of Commerce and Industry (DIPP),  vide notification  no. GSR 180(E) on Wednesday, the 17th February, 2016 has notified definition of ‘Startup’. To bring uniformity in the identified enterprises, an entity shall be considered as a ‘startup’-

1. Up to five years from the date of its incorporation/registration,
2. If its turnover for any of the financial years has not exceeded Rupees 25 crore, and
3. It is working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property;

Provided that any such entity formed by splitting up or reconstruction of a business already in existence shall not be considered a ‘startup’;

Provided further that in order to obtain tax benefits a startup so identified under the above definition shall be required to obtain a certificate of an eligible business from the inter-Ministerial Board of Certification consisting of:

1. Joint Secretary, Department of Industrial Policy and Promotion,
2. Representative of Department of Science and Technology, and
3. Representative of Department of Biotechnology.

The Gazetted copy of said definition of Start-up appended at the following link: DIPP_Notification No. GSR 180(E)_Definition of Startup