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Startup India Registration
The Indian Economy created vast opportunities regarding new businesses for upcoming entrepreneurs. To triggers the notion of innovation, entrepreneurship, and employment in the country, The Startup India Initiative was launched by the Government of India on 16th January, 2016. The main objective behind this scheme is to support entrepreneurs, building a robust startup ecosystem and offering various benefits among entrepreneurs to promote startups. This scheme focuses on transforming India into a country of job creators instead of job seekers. This scheme has initiated several programs to attract talented entrepreneurs and are managed by the Department for Industrial Policy and Promotion (DPIIT). As a result, Startups are becoming very popular in India.
ComplianceIndia can help you obtain Registration under Startup India scheme quickly and cost-effectively.
Advantages of Startup India Registration
Eligibility to apply for 3 years Income Tax exemption
Eligibility to avail funding from Rs. 10,000 crore FOF scheme
Priority inparticipation in Government Tender and Procurement Scheme
No Angel Tax up to Rs. 25 crore funding
Self-compliance for Labour Laws
50% discount in Trademark & 80% rebate in Patents fees
Private Limited can take deposit from its members
Eligibility for availing State Government Incentives
Easy Winding up Process
Eligibility for Startup India Registration
Company Age: Period of existence and operations should not be exceeding 10 years from the Date of Incorporation
Company Type: Should have incorporated as a Private Limited Company or a Registered Partnership Firm or a Limited Liability Partnership
Annual Turnover: Should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since its Incorporation
Original Entity: The Company or Entity should have been formed originally by the promoters and should not have been formed by splitting up or reconstructing an already existing business
Innovative & Scalable: Should work towards development or improvement of a product, process or service and/or have scalable business model with high potential for creation of wealth & employment
How we Work?
Rs. 8,499/- only
– Startup India Registration
– Filing of Form-1 for Income tax exemptions
– Filing of Form-2 for angel tax exemptions
– Expert advice from Experts/ Legal Professionals
Documents required for Startup India Registration
Other relevant Information:
– If the entity has received funding, then details related to amount of investment and Name of Investors to be provided
– If the entity has applied for IPR registration, then information related to such application or IPR certificate to be provided
– If the entity has received any awards/ certificates/ recognition, then details regarding the same to be provided.
– If the entity wants 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 (if applicable) and Copies of Income Tax Return for last three financial years (if applicable).
Comparison with other related Services
|Basis of comparison||Startups||Small Business|
|Innovations||Startups are meant to create something new and to improve what already exists. Innovations is one of the most important things for Startups||Small Business does not make any claims as to uniqueness|
|Scopes||A startup does not put any limitations on its growth and focused on winning over as much market share as possible.||Small business makes progress within limits and put limitations on the growth of the company and focus on service of a certain circle of customers.|
|Rate of growth||Startup should always grow and within the shortest possible time creating a reproducible business model||Small business, of course, should grow fast but a high-priority task is to make a profit. When a business opens benefits, its growth happens as and when necessary.|
|Profit||Small business is focused on getting earnings and, if possible, a profit from the very first day.||It might take months or even years for a startup to start gaining. The top target is to create a product, which consumers will like and will take on a market.|
|Technologies||Technologies are oftentimes the main product of startup||No special technologies are required.|
|Funding||Startups tend to rely on capital that comes via angel investors or venture capital firms||mall business operations may rely on loans and grants.|
Frequently Asked Questions
1. What is a Startup India Recognition?
Startup Recognition is based on Government Scheme providing special benefits to Start Up entities subject to specific conditions as laid down in the rules.
2. What is Startup India Hub?
Startup India Hub is a one-stop platform for all stakeholders in the Startup ecosystem to interact amongst each other, exchange knowledge and form successful partnerships in a highly dynamic environment.
3. Who is eligible to apply for Startup India Registration?
Only Private Limited Company, Limited Liability Partnership and Registered Partnership Firm are eligible to apply for a Startup Recognition certificate.
4. Can any Private Limited Company, Limited Liability Partnership and Registered Partnership Firm apply for Startup Registration?
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.
5. How can I connect with other Startups and Investors after getting Startup recognition?
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.
6. What is the government fee for making an application for recognition as a Startup by DIPP?
There is no government fee for the registration under the Startup India Scheme.
7. In how many days I will get the certificate for recognition as Startup by DIPP ?
The government officers thoroughly check all the information and documents provided in the application, hence the time period depends on the government processing time.
8. For how many years an entity is considered as a Startup?
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.
9. What is DIPP?
Department of Industrial Policy and Promotion which grants the certificate of recognition to Startups based on satisfaction of specific conditions.
10. Is One Person Company eligible to be entitled for recognition as “Startup”?
Since, One Person Company is a form of a company it is entitled to be recognized as “Startup”.
11. My entity is formed by converting a firm into LLP, will it be eligible for Startup India registration?
No, entities formed by Splitting Up or Reconstruction of Business already in existence are not eligible for registration under this scheme.
12. Whether the registration on Startup India website and DIPP recognized Startups are same?
No, the DIPP recognition for Startups is different from registration on Startup India website. To avail the benefits of Startup India scheme, the entity must be registered under Startup India Scheme provided by DIPP. Only creating the account on the website of Startup India does not amount to get recognized as Startup by DIPP.
13. Can the application be filed physically?
The application is to be submitted online at www.startupindia.gov.in
14. If at the time of application, I have selected NO for the tax benefits, will I be eligible to avail the benefits later on?
Yes, It can be availed later on also.
15. Can I avail tax benefits as soon as I get the certificate?
By registering under this scheme your entity will be eligible for availing tax benefits but to avail it, you need to separately apply for it by log in on the portal of Startup India.
16. What is a Letter of support in StartupIndia Registration?
A letter of support is a document that must be submitted with the enrolment form for Startup-India Registration if you wish to avail the tax exemption.
17. What can be submitted as a letter of support?
Any of the below can be submitted as a letter of support:-
– A proposal, with respect to innovative nature of the business, from an Incubator, OR
– A letter of help by an incubator, which is financed (in connection to the task) by Government of India as a major aspect of any predetermined plan to advance development; OR
– A letter of support, with respect to the innovative nature of the business, from an Incubator, perceived by the Government of India in DIPP indicated design; OR
– A letter of subsidizing of at the very least 20% in value, by any Incubation Fund/Angel Fund/Private Equity Fund/Accelerator/Angel Network, appropriately enlisted with SEBI that embraces inventive nature of the business; OR
– A letter of financing by Government of India or any State Government as a major aspect of any predefined plan to advance development; OR
– A patent registration recorded and distributed in the Journal by the Indian Patent Office in zones associated with the idea of the business being advanced.
18. What can be submitted as proof of business?
Following are needed to be furnished as proof of business existence: –
– Certificate of Company Incorporation
– Udyog Aadhaar certificate / MSME registration
19. Why do Investors invest in Startups?
Investing in startups is a risky proposition, but the low requirement for overhead capital combined with high upside potential, makes it lucrative for investors to put their bets on startups.
20. Can a foreign company register under Startup India hub?
Any entity having atleast one registered office in India is welcome to register on the hub as location preferences, for the time being are only created for Indian states. However, we are working on international relations and will soon be able to enable registration for stakeholders from the global ecosystem
21. My entity does not have a PAN. Would I be allowed to register it as a ‘Startup’ on the Startup India portal?
Yes, an entity without a PAN can be registered as a Startup on our website. However, it is advised that a valid PAN of the entity is provided at the time of registration
22. Can I provide two mobile numbers in the registration form?
Only one mobile number and one landline number of the authorized representative of the entity can be provided at the time of registration. The portal and the mobile app would be sending an OTP on the mobile number provided by the user to complete the authentication and registration process.
23. What is the time-frame for obtaining certificate of recognition as a ‘Startup’ in case an entity already exists?
The certificate of recognition is issued typically within 2 working days upon successful submission of the application.
24. If a startup has applied for DIPP-recognition and the application gets rejected or marked incomplete due to missing documents or insufficient information, should the startup edit the existing application or submit a new one?
If the application for recognition has been marked incomplete, the startup needs to follow the given steps:
1) Log in with their startup credentials on www.startupindia.gov.in
2) Select ‘Recognition and Tax Exemption’ button on the right panel
3) Select the ‘Edit Application’ button and proceed with completing your application
If the application has been marked ‘Incomplete’ thrice, the application is rejected.