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Startup India Registration

Startup India Registration is a transformative process facilitated by the Indian government to empower and nurture budding entrepreneurs. It involves accessing various benefits, including tax exemptions, funding opportunities, and mentorship programs. To foster innovation and economic growth, Startup India Registration opens doors to a supportive ecosystem, propelling startups toward success. Through this initiative, entrepreneurs gain recognition, financial incentives, and valuable resources, making it a pivotal step for those aspiring to contribute to India’s dynamic startup landscape.

Eligibility Criteria

The startup must meet the following eligibility criteria to avail the DPIIT Certificate of Recognition:

• Period of Existence of Entity: The Period of existence and operations of the company should not exceed 10 years from the date of formation
• Type of Entity: The DPIIT Certificate of Recognition is provided for the company that is incorporated as a Private Limited Company, a Limited Liability Partnership (LLP), or a Registered Partnership Firm.
• Annual Turnover: To get the DPIIT Certificate of Recognition, The firm should have an annual turnover of Rs. 100 crore for any of the fiscal years since its federation
• Original Entity: To avail the DPIIT Certificate of Recognition, the company should not have been incorporated by splitting up or recreating an already existing entity.
• Innovative & Scalable Entity: The entity should be working towards the development or improvement of a product, process, or service.
• The entity should have a scalable business model with high potential for the creation of wealth and employment. The firm should have the potential to generate employment or create wealth.

Procedure to Get a DPIIT Certificate

The entity should follow the below-mentioned simple steps to get the DPIIT certificate of recognition.

Incorporation of the Business

As stated above, the entity must first incorporate the business as a Private Limited Company or a Partnership firm or a Limited Liability Partnership (LLP).

Registering Business with the Startup India Scheme

The business needs to be registered with the Startup India Scheme to get the DPIIT certificate of recognition.

Apply for Start-up Recognition

The applicant unit needs to access the Start-up India Recognition portal to Register with Start-up India to get the DPIIT Certificate of Recognition for Startups.

Provide the following details in the Start-up Recognition application:

• Entity Details: Nature of Entity, Industry, Sector, Categories and Company Incorporation Number and Registration Date
• Full Address of the Entity
• Details of the Authorized Representative
• Directors or Partner Details
• Details of Intellectual Property Right
• Details of funding
• Recognition received by the entity

Get the Startup Recognition Number

The DPIIT Certificate of Recognition for Startups will be issued after examination of the application and documents submitted.

Once the ministry approves the application and provides the unique startup recognition number, the startup can be registered with tax benefits.

Benefits for DPIIT Recognized Startups

The startups can avail the following benefits after obtaining the DPIIT Certificate of Recognition for Startups:

Self-Certification

After obtaining the DPIIT Certificate of Recognition for Startups, the entity will be allowed to self-certify compliance under 3 Environmental Laws and 6 Labour Laws.

Start-Up Patent Application

The DPIIT-recognized startups are required to pay only 80% of the fees on Patents, trademarks, copyrights, and design, and the fast-tracking of a patent application will be available for startups.

Easier Public Procurement Norms

• The DPIIT-recognized startups will get an opportunity to list the product on the Government e-marketplace.
• DPIIT-recognized startups are exempted from submitting Earnest Money Deposit
• Exemption from Prior Experience/Turnover is provided for Start-ups in all Central Government ministries and departments.

Easy winding up of the Company

According to the Insolvency and Bankruptcy Code, 2016, the company can be wound up within 90 days of applying for insolvency.

Funds of Funds

The startups will be eligible for Rs.10000 crore funds of funds from the Alternative Investment Funds.

Credit Guarantee fund

The startups can avail Rs.2000 crore Credit Guarantee fund through the National Credit Guarantee Trust Company or SIDBI over 4 years.

Tax Exemptions

• After obtaining the Certificate of Recognition, the startup can apply for Tax exemption under section 80 IAC of the Income Tax Act.
• The DPIIT-recognized startups can apply for Angel Tax Exemption.
• After obtaining the clearance for Tax exemption, the DPIIT recognized startups are exempted from income tax for 3 consecutive fiscal years out of its first ten years since formation.

Do Startups Registration with FinHub Advisors Pvt Ltd

Entrust your Startup registration to FinHub Advisors Pvt Ltd for a seamless and strategic experience.

Our dedicated professionals navigate the intricate process, ensuring strict compliance with Startup India’s dynamic framework. With FinHub Advisors Pvt Ltd, your startup gains access to exclusive benefits, including tax exemptions, funding opportunities, and mentorship programs. We streamline the registration journey, offering expertise and efficiency to propel your startup toward recognition and growth.

Documents Required For Startup India

• Proof of Funding
• Documents of Awards
• Patent documents
• Description of Business
• Incorporation Certificate