Under the Startup India initiative, those companies which meet the conditions as prescribed under G.S.R notification 127(E) are eligible to be recognized as a Startup by the Department for Promotion of Industry and Internal Trade (DPIIT). There are numerous tax concessions, exemptions and easier compliance mechanism currently in place for the startups.
Eligibility criteria for being recognized as a Startup:
Registration of Startup License in India made simple by Advisorate