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START UP INDIA
WHAT IS START UP INDIA REGISTRATION ?
Startup means an entity, incorporated and registered in India as a Private Limited Company or Limited Liability Partnership or Registered as a Partnership Firm, with
An annual turnover not exceeding Rs. 100 crore for any of the financial years since incorporation / registration.
Working towards innovation, development or improvement or of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
Shall not be more than 10 years old for Startup recognition OR not incorporated before April 2016 to claim Tax Exemption certificate.
An entity shall cease to be a Startup
On completion of 10 years from the date of incorporation/registration.
If its turnover for any previous year exceeds Rs. 100 crore
MAJOR BENEFITS OF START-UP INDIA REGISTRATION
Once your company get Start-up recognition, you can further apply for Income Tax Exemption benefits available under
a. Section 80IAC:- 100% Tax Exemption be claimed by Start-up for any three consecutive assessment years out of ten years beginning from the year in which the eligible start-up is incorporated.
b. Section 56 of Income Tax Act relief for Angel Tax relief (Tax on Share Premium).
In many Govt & PSU tender, relaxation for Start-ups for Participation in public procurement job through tenders. Relaxation in prior experience, EMD or Turnover criteria.
GOVT. FUNDING OPPORTUNITY
Government allotted Rs 10,000 Crores funds for investment into start-ups through Alternate Investment Funds. SIDBI is managing this fund. Start-ups can apply under this quota.
PARTICIPATE IN VARIOUS GOVT. SCHEME
Government issues day to day various schemes for startup to participate. For example, sustainable finance scheme, bank credit facilitation, raw material assistance, etc.
Eligible for Self-certification and compliance under 9 environmental & labour laws.
IPR GOVT. FEE CONCESSION
In IPR Registration 50%-80% Govt. fee concession available. Example in Trademark, Patent application.
EASY WINDING UP
Windup Company in 90 days under insolvency & Bankruptcy code 2016.
DOCUMENTS REQUIREMENT FOR START-UP INDIA REGISTRATION
Scan & Certified Copy Certificate of Incorporation, PAN, MOA & AOA, GST Certificate.
Address Proof of Company.
Official Email ID and Mobile number.
PAN & Aadhar Card of Director / Partners.
Company Logo if any.
Industry, Sector, Category of Business of Company.
Company Website / Brochure / Video.
Details of Trademark or Patent of Company.
A Brief about business and products/services and notes on innovations.
Revenue model and Uniqueness of the Product.
Brief Answer Minimum 500 Words:
What is the problem the start-up is solving?
How does your start-up propose to solve this problem?
What is the uniqueness of your solution?
How does your start-up generate revenue?
Is the start-up creating a scalable business model with high potential of employment generation or wealth creation? How.
Our Service Package inclusion for Startup India Registration
The whole process takes approx. 15 working days.
First, Get Consultation from our Consultant to know the eligibility requirements, documents and process of registration.
Once we collect your documents, Startup information and activities, our process starts to prepare your application as per norms of the DIPP.
Based on the information provided by you, we prepare a write-up about the nature of business highlighting how it is working towards innovation, development or improvement of products or processes or services or its scalability in terms of employment generation or wealth creation.
Once your application is completed in all respect, we proceed to file your application with DIPP (MInistry of Commerce and Industry).
We Track the application status and update Client time to time.
Once the department examine and approve your application, your Registration Certificate is Issued and send on email by department.
How to Apply for Tax Exemption Certificate U/s 80-IAC of Income Tax Act
As per Revised Rule vide Notification dated 11th April '2018 issued by Ministry of Commerce and Industry (Department of Industrial Planning and Promotion) -
A Startup being a Private Limited Company or Limited Liability Partnership (LLP) incorporated after 1st April 2016 may, for obtaining a certificate for the purpose of section 80-IAC of the Income Tax Act, make an application in Form-I along with documents specified theirein to the Board and the Board may after calling for such documents or information and making such enquires, as it may deem fit -
i) Issue Tax Exemption Certificate.
ii) Reject the application by providing reasons.