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Startup India registration is a process by which a startup company in India can get recognized as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT). Register your startup with Startup India today and avail a host of benefits, including tax exemption, easier compliance, IPR fast-tracking, access to funding, and more!
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:
Is Your Company A Startup? Your company must meet the following criteria to be considered eligible for DPIIT startup recognition.
Entity must should be Incorporated as a Private Limited Company, a Registered Partnership Firm or a Limited Liability Partnership
Period of existence and operations should not be exceeding 10 years from the Date of Incorporation of Entity.
Entity must should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since its Incorporation.
To avail the DPIIT Certificate of Recognition, the Entity should not have been formed by splitting up or reconstructing an already existing business.
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
We help plan and prepare for Startup India Registration, draft documents, and file with the Department for Promotion of Industry and Internal Trade (DPIIT) under the government of India Startup India Initiatives.
Updated financial statements (Balance Sheet, Profit & Loss statement, Income Tax Returns) for the past three years or from the year of incorporation
Note 1 – The Balance Sheet and the Profit and Loss Statement must be CA Certified
Note 2 – If your startup was incorporated on 1st April 2021 or later, Income Tax Returns (ITR) is not mandatory. For startups incorporated earlier, ITR is mandatory
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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.
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
Registered startups can access various funding opportunities such as government schemes, angel investors, venture capitalists, and incubators.
Startups can apply for government tenders. They are exempted from the “prior experience/turnover” criteria applicable for normal companies answering to government tenders.
Startups registered under Startup India can avail of various government support services such as access to incubators, research and development facilities, and marketing support.
Registered startups can access networking opportunities with other startups, industry experts, and mentors through various events and programs organized by Startup India.
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.
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.
The registration process for Startup India is entirely online and can be completed in a few simple steps:
Post getting recognition a Startup may apply for Tax exemption under section 80 IAC of the Income Tax Act. Post getting clearance for Tax exemption, the Startup can avail tax holiday for 3 consecutive financial years out of its first ten years since incorporation.
The eligibility criteria for Startup India registration are as follows:
The benefits of Startup India registration include tax exemptions, access to government schemes, easier winding up of the company, self-certification compliance, access to funding, and various other benefits aimed at supporting the growth of startups.
DPIIT recognition refers to the recognition granted by the Department for Promotion of Industry and Internal Trade (DPIIT) to startups in India. It is a prerequisite for availing various benefits and incentives under the Startup India initiative.
Once you have registered your startup with Startup India, you can apply for DPIIT recognition. The application process is online and can be completed through the Startup India website.
The registration process typically takes around 7-10 working days for review and processing. However, the timeline may vary based on the workload and processing efficiency of the authorities.
A proprietorship or a public limited company is not eligible as startup. A one person company, being a private limited company is entitled to be recognized as a ‘startup’.
Yes. One Person Companies are eligible to avail benefits under the Startup India initiative.
No . Proprietorship and unregistered partnership firm are not eligible to avail benefits under the Startup India initiative.
The certificate of recognition is issued typically within 2 working days upon successful submission of the application.
Eligibility Criteria for Startup India Scheme
No, only Indian entities are eligible for Startup India registration. However, foreign investors and venture capital funds can support and invest in Indian startups.
Recognized startups are eligible for a number of tax benefits, including the following: exemption from capital gains tax on sale of shares, exemption from dividend distribution tax, and exemption from income tax on profits for the first three years.
There are a number of other government schemes and programs available to startups, including the following: the Startup India Seed Fund Scheme, the Startup India Innovation Challenge, and the Startup India Mentorship Program.
The certificate of recognition is issued typically within 2 working days upon successful submission of the application.