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Empowering Startups, Accelerating Innovation: Get Recognized with DPIIT - Startup India Registration
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The Startup should be incorporated as a private limited company or registered as a partnership firm or a limited liability partnership
The Startup should be working towards innovation/ improvement of existing products, services and processes and should have the potential to generate employment/ create wealth.
Turnover should be less than INR 100 Crores in any of the previous financial years
An entity shall be considered as a startup up to 10 years from the date of its incorporation
Startups are now given income tax exemption for a period of three years from the date of incorporation, provided they are certified by the Inter-Ministerial Board of Certification. Further, on recognition from DPIIT (Department of Promotion of Industry and Internal Trade), and if the aggregate amount of the paid-up share capital and share premium, if any, of the startup after the proposed issuance of shares does not exceed INR 25 crore, the startup will also be exempted from capital gains tax under section 56 of the Income Tax Act, 1961-2014.
Once your startup is certified by the Inter-Ministerial Board of Certification and a DIPP (Department of Industrial Policy and Promotion) number has been issued to you, you can get listed as a seller on the Government of India’s e-procurement portal – Government e-Marketplace – and have the inside track on all Government of India Ministries/Departments/Public Sector undertakings subject to your ability to meet quality and technical requirements. Certified startups will also be entitled to exemptions on the earnest money deposit in your bid as well as in terms of the requirements regarding prior turnover and experience.
Startups are exempted from Intellectual Property Rights (IPR) costs of 80% on patents and 50% on trademarks and are actively assisted by government-provided facilitators who help protect and commercialize IPRs. Huh. Scrutiny and disposal of IPR applications is also faster. The government will also pay the fees of the facilitators.
Startup registration in India is still extremely complex, with incorporation and registration being considered more difficult than the actual conduct of the business due to the complexity of the requirements. Under this scheme, Startup India Hub, a portal for networking opportunities and support for startups, has been created with a problem-solving window being provided by the government under the scheme.
Under the Startup India scheme, startups are allowed to self-certify compliance with six labor laws and three environmental laws through a simple online process. For labor laws, no inspection shall be conducted for a period of 5 years, unless a credible and verifiable complaint of violation is filed in writing, and approved by an officer not less than the Inspecting Officer be one level senior. In the case of environmental laws, startups that fall under the 'white category' (as defined by the Central Pollution Control Board) will be able to self-certify compliance, and only random checks will be conducted in such cases.
The government has introduced provisions to ease winding up operations by appointing an insolvency professional to expedite the closure of operations and facilitate the sale of goods as well as paying creditors, recognizing limited liability . Startups having a simple debt structure or fulfilling the criteria mentioned under this scheme will be able to achieve full exit within 90 days.
Certificate of Incorporation from MCA/Registration Certificate from ROF
PAN Card of an entity
MOA & AOA in case of company and Partnership deed in case of LLP or Partnership Firm
List of Directors or Designated partners or members along with their photographs and contact details
URL of website & Mobile App of an entity (if any) and Social Profile’s (LinkedIn and/or twitter) of Directors, DP’s and members.
If the entity has received any funds then the details related to the amount of investment and investor.
If the entity has applied or registered any IPR then the Information related to such application or registration.
To claim deduction under section 80-IAC, Form-1 needs to be filed along with Annual Accounts of the Startup for last three financial years
StartUp Recognition is based on Government Scheme providing special benefits to Start Up entities subject to specific conditions as laid down in the rules.
Only Private Limited Company, Limited Liability Partnership and Registered Partnership Firm are eligible to apply for a StartUp Recognition certificate.
An entity working for innovation, deployment or commercialization of new products, process or services driven by technology or intellectual property is eligible to apply. A new product/service/process, or a significantly improved existing product/service/process, that can create or add value to customers or a workflow can also file an application to register itself under this scheme.
After registration you can connect to other Startups, investors or incubators on the Startup India portal under the Tab – ECOSYSTEM or you can connect by login into your account.
For the period of 10 years from the date of incorporation or up to the turnover increases the limit of Rs. 100 crore in any financial year.
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