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Startup India Registration

Startup India Registration -

When a company is newly formed by a small or a group of individuals it is known as Startup. The keyword innovation differentiates the Startup India Registration from other new businesses as the startup offers new products or services that are not available anywhere else. The business either develops new services or products and might redevelop current services or products into something better.
According to the current scenario, startups are becoming famous in India. In the matter of developing a better Indian economy and attracting talented entrepreneurs, the Government of India has started and promoted the Startup India initiative to recognize and promote startups.

Documents required for Startup India Registration

  • Certificate of Incorporation/ Registration Certificate and PAN
  • Mobile number and Email ID
  • Company details such as sector, category, industry, regd. Office address etc.
  • Partners/directors details such as Photo, gender, name, mobile no. Email ID, and full address
  • Details of Authorized Representative such as Name, designation, mobile no, email ID.
  • A brief about business and services/products and notes on innovations
  • Revenue model and uniqueness of the product
  • Video/Website/Patent/Deck/Pitch(anyone)

Here are some of the key advantages:

  • Tax Exemptions

Startups registered under Startup India can apply for various tax exemptions and claim income tax exemption for the first three consecutive years of operation. This helps reduce the financial burden on startups during their initial years.

  • Access to Funding

Registered startups have access to various funding opportunities through government schemes, funds, and initiatives. They can apply and avail funds after registering under Startup India.

  • Networking and Mentorship

Startup India offers networking opportunities, mentorship programs, and guidance of various industry experts and investors. Startups can benefit from guidance, advice, and connections that can help them take challenges and scale their businesses.

Process for Registration Under Startup India -

  • Step 1:- Incorporate your business -
First of all in the Startup India Registration Process, you need to incorporate your business as a Private Limited Company or a Limited Liability Partnership, or a Registered Partnership firm. You need to follow the normal procedure that guides you to fill out a form to get the registration.
  • Step 2:- Register under Startup India
Now you are required to register your firm or company as a startup in the Startup India scheme of the government. You are required to fill the form available for you on the Startup India website. You have to fill out all the details and upload a certain number of documents as well.
  • Step 3:- Eligibility criteria for startup India registration
  • The entrepreneurs must form a private limited company, limited liability company or registered partnership firm.
  • The company must have innovative products
  • The company must be new but not older than 10 years
  • The turnover must not exceed over Rs. 100 crores
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  • Step 4:- You are required to mention if you need tax exemption

In India, startups do not have to pay income tax for the first three consecutive years but to avail of such advantages, the company must be certified by the MCA or Registrar of Firms. Companies registered with DIPP only apply for relaxation under Income Tax Act.

FAQs

Common Questions About Our Consulting Services

Can an Unregistered Partnership firm avail Startup India Certificate?

No, if any entity wants to register themselves under Startup India then they must have Registered Partnership Firm, Pvt. Ltd. Company or an LLP

Yes, after registering under Startup India, you can apply for Startup India Scheme to avail government grants of upto 20 lakhs.

Yes, after registering under Startup India, you can apply for tax exemption under 80IAC and 56 of Income Tax Act for consecutive three financial years.

No, only companies who are not older than 10 years can apply for Startup India Certificate

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