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Start Up India Recognition
A startup is an entity that is in the first stage of its operations. It is basically business model that aims to meet a marketplace need by developing or offering an innovative product, process or service. Under the StartUp India Action Plan, start-ups that meet the definition as prescribed under the relevant notification are eligible to apply for recognition under the program.
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Advantages of Startup Registration
Self-Certification
Startups shall be allowed to self-certify compliance for 6 Labour Laws and 3 Environmental Laws through a simple online procedure.
Patent Filing
Startups shall be provided an 80% rebate in filing patents vis-a-vis other companies. This will help them pare costs in the crucial formative years.
Angel Tax Exemption
Startups are eligible for the exemption under Section 56(2)(viib) of the Income Tax Act.
Income-Tax Exemption
Eligible startups can be exempted from paying income tax for 3 consecutive financial years out of their first ten years since incorporation.
Easy Winding up
Startups with simple debt structures or those meeting certain income specified criteria can be wound up within 90 days of filing an application for insolvency under the Insolvency and Bankruptcy Code, 2016.
Exemption from EMD
DPIIT recognized startups have been exempted from submitting Earnest Money Deposit (EMD) or bid security while filing government tenders.
Who should get this registration?
Startup satisfying the following conditions can apply for Recognition:
- Registered as Private limited company or Partnership Firm or LLP.
- Turnover should be less than INR 100 Crores in any of the previous financial years.
- An entity shall be considered as a startup up to 10 years from the date of its incorporation.
- Startup should be working towards innovation/ improvement of existing products, services and processes and should have the potential to generate employment/ create wealth. An entity formed by splitting up or reconstruction of an existing business shall not be considered a “Startup”
Why should you get this registration?
Entity should get itself registered for availing various benefits like self-certification, exemption from income-tax, angel tax
- Self-certification,
- Exemption from income-tax, angel tax
- Reduced fee of patent & trademark etc.
Process of Startup Registration
Startup is required to register by creating account on the Startup India portal
Basic details need to be filled on the portal for applying for the recognition under the startup India Scheme.
After filling the necessary details, the application needs to be submitted on the portal.
After satisfying, the recognition certificate is issued by the DPIIT.
Documents/ Details required for Startup Registration
Audited Statements
Self-certified copy of the audited statements since inception of entity.
Income Tax Returns
Self-certified copy of income tax returns.
Copy Of PAN Card
Copy of PAN Card of Entity.
Business Model
Note on Business Model.
COI, MOA & AOA
Copy of COI, MOA & AOA.
PAN & AADHAAR
PAN & Aadhaar of directors.
MSME Registration Certificate
MSME Registration Certificate, if any.
Details of no. of employees
Details of No. of Employees.
Details IPR
Details of IPR, if any.
Details of funding received
Details of Funding received by entity.
Email Id & Mobile No.
Email ID & Mobile No. for registration.
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How Taxified Can Help You?
- Recognition under Startup India Scheme
- Availing Tax exemption under section 80 IAC
- Availing Tax Exemption under Section 56 (Angel Tax)