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Tax Online CA
Overview

Startup India Registration

Startup India Recognition is a program launched by the Government of India in 2016 to support the growth and development of startups in the country. Under this program, eligible startups can get recognized by the Department of Promotion of Industry and Internal Trade (DPIIT) and avail a host of benefits, including:

Documents Required for Start up India Registration

  • Certificate of Incorporation / Registration Certificate and PAN
  • Email ID and Mobile number of Directors and Authorise person
  • Company Details ( Industry, Sector, Category, Regd. Office Address etc)
  • Directors/Partners Details ( Name, Photo, Gender, Mobile No. Email ID, Full Address)
  • A Brief about business and products/services and notes on innovations
  • Revenue model and Uniqueness of the Product
  • Pitch Deck/Video/Patent ( anyone)
  • Website
  • Organisation DSC
CONTACT US

Eligibility criteria for DPIIT Startup India registration

1. Entity must should be Incorporated as a Private Limited Company, a Registered Partnership Firm or a Limited Liability Partnership.
2. Startup has not been incorporated for more than 10 years.
3. Turnover of the entity of any of the financial years since incorporation has not exceeded 100 Crore rupees.
4. Startup has not formed the entity by splitting up or reconstruction of a business already in existence.
5. The entity should not be incorporated/registered as a subsidiary of any Indian or foreign entity nor it is incorporated/registered as a holding company of any Indian or foreign entity. (Please note that any startup becoming holding/subsidiary of any company after obtaining recognition will be derecognized).
6. Entity Should not formed by Joint Venture.
7. Entity is not incorporated outside the Indian territory.
8. Shareholding by Indian promoters in the startup would be atleast 51%, as per Companies Act, 2013 and SEBI (ICDR) Regulations, 2018.
9. Entity should not be a sole proprietorship.

Startup India Registration Benefits

Reduction in cost The government also provides lists of facilitators of patents and trademarks. They will provide high-quality Intellectual Property Right Services including fast examination of patents at lower fees. The government will bear all facilitator fees and the startup will bear only the statutory fees. They will enjoy 80% reduction in the cost of filing patents.
Easy access to Funds Registered startups can access various funding opportunities such as government schemes, angel investors, venture capitalists, and incubators.
Government support Startups registered under Startup India can avail of various government support services such as access to incubators, research and development facilities, and marketing support.
No time-consuming compliances Various compliances have been simplified for startups to save time and money. Startups shall be allowed to self-certify compliance (through the Startup mobile app) with 9 labour and 3 environment laws.
Tax holiday for 3 Years Startups will be exempted from income tax for 3 years provided they get a certification from Inter-Ministerial Board (IMB).
Eligibility Criteria for Tax Exemption under Section 56 of the Income Tax Act The entity should be a DPIIT recognized Startup. Aggregate amount of paid up share capital and share premium of the Startup after the proposed issue of share, if any, does not exceed INR 25 Crore.
Apply for tenders Startups can apply for government tenders. They are exempted from the “prior experience/turnover” criteria applicable for normal companies answering to government tenders.
Networking and mentorship Registered startups can access networking opportunities with other startups, industry experts, and mentors through various events and programs organized by Startup India.
Meet other entrepreneurs The government has proposed to hold 2 startup fests annually both nationally and internationally to enable the various stakeholders of a startup to meet. This will provide huge networking opportunities.