Start-Up India Registration | DIPP Certification
Want to Avail various benefits under the scheme ? Apply for Start Up Registration with TAXAJ
It usually takes 2 to 4 months.
- Drafting documents
- Filing of forms with Authorities
- Documented Follow-up
- Business hours - CA support
- Any Start Up or Business willing to get various benefits under the scheme.
- Purchase of plan
- Upload documents on Vault
- Drafting of documents
- Submission of documents and application with Department
- Receipt of Registration letter
1. Certificate of Incorporation / Registration Certificate and PAN
2. Email ID and Mobile number
3. Company Details (Industry, Sector, Category, Regd. Office Address etc.)
4. Directors/Partners Details (Name, Photo, Gender, Mobile No. Email ID, Full Address)
5. Details of Authorized Representative (Name, Designation, Mobile No. Email ID)
6. A Brief about business and products/services and notes on innovations
7. Revenue model and Uniqueness of the Product
Avail Various Incentives under the Scheme with Start Up India Certification!
7 Steps to Register your Startup
What is a StartUp?
A startup is generally termed a newly conceived business, usually small, coined with an idea to solve a problem in the market. What differentiates it from other businesses is that a startup should offer a product or service that is not provided elsewhere in the same way. The keyword is innovation. The business either develops a new product/ service or redevelops a product/service already available into something better.
What is a StartUp?
Startup Initiative is becoming very popular here in India. To develop the Indian economy and attract talented entrepreneurs, the Government of India, under the leadership of PM Narendra Modi, has started several programs and promoted the Startup India initiative to recognize and encourage startups. That's why today we can see several Unicorns in india and every now and then there arises new successful start ups.
Startup Registration India – 7 Steps to Register your Startup
Step 1: Incorporate your business
Step 2: Register with Startup India
Then the business must be registered as a startup. The entire process is online and straightforward. All you need to do is log on to the Startup India website, fill the form with details of your business, and upload certain documents.
Step 3: Documents to be uploaded
a) You must submit a letter of recommendation/support along with the registration application. Any of the following will be valid-
(i) A recommendation letter (regarding innovative nature of business) from an Incubator who is established in a post-graduate college approved by UGC in India, in a format specified by the Department of Industrial Policy and Promotion (DIPP); OR
(ii) A letter of support by an incubator, which is funded (about the project) by the Government of India as part of any specified scheme to promote innovation; OR
(iii) A letter of recommendation (regarding innovative nature of business), from an Incubator, recognized by the Government of India in DIPP specified format; OR
(iv) A letter of funding of not less than 20% in equity, by any Incubation Fund/Angel Fund/Private Equity Fund/Accelerator/Angel Network, duly registered with SEBI that endorses innovative nature of the business; OR
(v) A letter of funding by Government of India or any State Government as part of any specified scheme to promote innovation;
(vi) A patent filed and published in the Journal by the Indian Patent Office in areas affiliated with the nature of the business being promoted.
b) Incorporation/Registration Certificate
You need to upload the certificate of incorporation of your company/LLP (Registration Certificate in case of a partnership)
c) Description of your business in brief
A brief description of the innovative nature of your products/services.
Step 4: Answer whether you would like to avail tax benefits
Startups are exempted from income tax for 3 years. But to avail of these benefits, they must be certified by the Inter-Ministerial Board (IMB). Startups recognized by DIPP, Govt. of India can now directly avail of IPR related benefits without requiring any additional certification from IMB.
Step 5: You must self-certify to satisfy the following conditions
a) You must register your new company as a Private Limited Company, Partnership firm or a Limited Liability Partnership.
b) Your business must be incorporated in India, not before 5 years.
c) Turnover must be less than 25 crores per year.
d) Innovation is a must– the business must be working towards innovating something new or significantly improving the existing used technology.
e) Your business must not be a result of splitting up or reconstruction of an existing business.
Step 6: Immediately get recognition number
That’s it! On applying, you will immediately get a recognition number for your startup. The certificate of recognition will be issued after the examination of all your documents.
However, be careful while uploading the documents. Suppose on subsequent verification. It is found that the required document is not uploaded/the wrong document uploaded, or a forged document has been uploaded. In that case, you shall be liable to a fine of 50% of your paid-up capital of the startup with a minimum fine of Rs. 25,000.
Step 7: Other Areas
a) Patents, trademarks or design registration
If you need a patent for your innovation or a trademark for your business, you can easily approach any from the list of facilitators issued by the Government. You will need to bear only the statutory fees, thus getting an 80% reduction in fees.
One of the critical challenges faced by many startups has been accessing finance. Due to lack of experience, security or existing cash flows, entrepreneurs fail to attract investors. Besides, the high-risk nature of startups, as a significant percentage fail to take off, puts off many investors.
To provide funding support, the Government has set up a fund with an initial corpus of INR 2,500 crore and a total corpus of INR 10,000 crore for 4 years (i.e. INR 2,500 crore per year). The Fund is like Fund of Funds, which means that it will not invest directly into Startups, but shall participate in the capital of SEBI registered Venture Funds.