Startup India Scheme
The Startup India initiative was launched in 2016 to foster a thriving startup ecosystem and position India as a global leader in innovation. Through Startup India registration, startups gain access to an array of benefits designed to support their growth and development.
DPIIT Registration for Startups
Under the Startup India scheme, eligible businesses can be recognized as startups by the Department for Promotion of Industry and Internal Trade (DPIIT), part of the Ministry of Commerce and Industry. DPIIT recognition enables startups to access numerous benefits outlined under the Startup India scheme.
Eligibility Criteria for Startup India Registration
To register your startup in India and qualify for DPIIT recognition, your business must meet the following criteria:
Business Structure : The startup must be a private limited company, a limited liability partnership (LLP), or a partnership firm.
Age of the Startup : The business should be at most ten years from its incorporation. For biotech startups, the limit is 15 years.
Annual Revenue : The annual turnover must not exceed INR 100 crores in any financial year since inception.
Innovation Focus : The startup must innovate, develop, deploy, or commercialize new products, processes, or services using technology or intellectual property.
DPIIT Recognition : The startup must obtain a Startup India certificate from DPIIT.
Legal Compliance : The business must comply with the Companies Act, Income Tax Act, and GST Act and maintain a registered business bank account.
Job Creation : The startup should contribute to job creation or have the potential to do so in the future.
Benefits of Startup India Registration
1. Patents, Trademarks, and Design Registration
Startups can avail an 80% reduction in patent filing fees and access government-approved facilitators for trademarks and designs.
2. Funding Support
A dedicated fund of Rs. 10,000 crore has been established to provide indirect financial support through SEBI-registered venture funds.
3. Self-Certification under Labour and Environmental Laws
Startups can self-certify under six labour laws and three environmental laws, reducing compliance costs for up to five years.
4. Tax Exemptions
DPIIT-recognized startups can claim income tax exemptions for three consecutive financial years within their first ten years of incorporation. They can also apply for angel tax exemption under Section 56 of the Income Tax Act.
5. Simplified Winding Up
Startups can wind up their business operations within 90 days from the application date.
6. Relaxed Public Procurement Norms
Startups are exempt from prior turnover and experience requirements, allowing them to bid for government contracts.
Documents Required for Startup India Registration
To complete the registration process, you will need:
- Company Incorporation/Registration Certificate
- Proof of Funding (if applicable)
- Authorization Letter from an authorized company representative
- Proof of Concept (pitch deck, website link, or demo video)
- Patent and Trademark Details (if any)
- List of Awards or Certificates (if any)
- PAN (Permanent Account Number)
Step-by-Step Guide to Startup India Registration
Step 1: Incorporate Your Business
- Register as a Private Limited Company (ROC), LLP (Registrar of Companies), or Partnership Firm (Registrar of Firms).
- Obtain a Certificate of Incorporation or Partnership Registration.
Step 2: Register with Startup India
- Sign up on the Startup India website and fill out the online form with relevant business details.
Step 3: Obtain DPIIT Recognition
- Log in to Startup India and apply for DPIIT recognition under the ‘Recognition’ tab.
- Companies and LLPs must register on the National Single Window System (NSWS) to complete the DPIIT registration process.
Step 4: Get Your Startup India Recognition Number
- Upon application, you will receive a DPIIT recognition number immediately.
- The official Startup India Certificate will be issued after document verification.
- This certificate enables access to Startup India benefits, including tax exemptions and IP services.
Why Choose Axeurtax for Startup India Registration?
Axeurtax offers expert guidance for obtaining your Startup India Certificate. Our team ensures a hassle-free registration process, helping you meet compliance requirements with affordable Startup India registration fees.
Contact our experts today and take the first step toward your startup success!