Eligible startup? Get a Startup India Registration and Claim your benefits

Startups are the backbone of the economy. Startups not only generate jobs, they also promote economic growth and Entrepreneurial spirit in the country. The fuel the innovation of the creative thinkers in a nation. Government of India is taking various efforts to boost startups in India. Startup India is one such initiative. Read below to understand better!

What is Startup India? 

Startup India is a leading startup-supporting initiative of the Government of India. It aims to fasten the startup culture in India. It paves a way to a strong foundation for startups and build the necessary ecosystem to promote innovation and entrepreneurship. The initiative has supported hundreds of entrepreneurs and businessmen. The scheme launched on 16th 

January, 2016 and started to challenge the job seeking mindset of the youth. 

The initiative has launched various programs under this scheme. Established under the Department for Industrial Policy and Promotion (DPIIT), the initiative has a broad scope of action and a well-outlined plan. The 19 stage action plan aims to support startups in the following ways: 

1. Safeguarding IPR: 

IPRs, that is Intellectual Property Rights are important assets of any business. It protects the creativity and intellect of the man. IPRs recognize uniqueness and appreciation for innovative solutions. Essential amendments are introduced in the IPR landscape to streamline and hasten the registration process. 

The startup India registration process has simplified the IPR facilitation and patent filing. 

2. Better Infrastructure: 

Startup India provides enhanced infrastructure and better resources to startups. Various incubation centers are established to guide startups with their endeavor. 

3. Tax Benefits: 

Startups established under startup India will receive good regulation and financial ecosystem with numerous tax benefits, simple compliance, quicker establishment of companies and quick exits with less losses. 

4. Networking: 

The scheme and the portal offer various resources and networking opportunities to users and stakeholders who are a part of the startup ecosystem. 

Let us now understand the startup India registration process. 

What is the process of registration of a startup in India? 

Startup India registration is a simplified procedure to help companies or partnerships register under the the startup India scheme. Eligible businesses can take maximum benefit of this scheme after registration. 

Startup registration process can be summarized in 7 simple steps: 

1. Inception of Business:

It is important to start a business before registration. If you have a business, registering it is essential. Having a registered business is important before the startup India registration. You can register your business as a Private Limited Company or LLP under the Companies Act, 2013, the Limited Liability Partnership Act, 2008, or the Partnership Act, 2013. You can check the registration compliances of companies here. 

You can follow your general registration procedures to register your business. Simplify the registration process by purchasing the quick and timely services from Lawgical Adda. We provide private company registration and LLP registration at low costs at the convenience of your city. 

Once your business is registered as a LLP or a Private limited company, you can proceed to the next step of the procedure. 

2. Checking Your Eligibility

What is the eligibility for startup registration? Which companies or partners are eligible to register? 

Not all entities can register themselves under the startup India scheme. Entities will have to fall under the following criterias to be eligible for registration: 

• The owner of the entity should be an adult above the age of 18. A minor cannot apply this scheme. 
• A corporation that has commenced its business for over 10 years is ineligible to apply. An entity who has been working less than 10 years can apply for startup India registration. 
• The entity must be registered as a partnership firm, private limited company or a limited liability partnership. 
• The annual turnover of the company should be less than Rs. 100 crore. This turnover will be examined on a yearly basis, for every year since incorporation. 
• The entity should be a new entity. It must not be registered after reconstruction or demerger of an existing company. 
• The business model should be innovative and scalable. The model should be able to prove returns and guarantee profits. It should have a good potential to create wealth and jobs. 
• Companies that are working towards development of new products must fulfill the following criteria: 

1. The product should use the latest technology or intellectual property. The company aims to develop, market and sell this product. 
2. Startups should have a goal towards the betterment of a subsisting product to improve the value of the customer or project. 
3. The entity must be involved in developing and marketing a differentiated product to improve the value of the customer or project. 

3. Startup India Registration: 

Eligible businesses can proceed to Startup India Registration. The process takes place in online mode. Visit the startup india website and register yourself. Enter the details shown in the image below. The website will verify your credibility with the help of OTP. This OTP will be sent on the email id and mobile number entered in the details. 

Your startup will be registered in 15-20 days. Begin your startup India registration process with Lawgical Adda. We charge only INR 5900 as the startup india registration fees . You can pay these startup registration fees and enhance your business today! Choose your Startup india registration services today. 

4. Register under DPIIT

Eligible companies can get a DIPP registration startup. Once your startup is recognized by the Development for Promotion of Industry and Internal Trade (DPIIT) your business will be eligible to gain various benefits under various acts. 

You can get a tax exemption under section 80 IAC and section 56 of the Income Tax Act. An entity must be: 

1. Recognized startup,
2. Registered as a Limited Liability Partnership or a private limited company, and 
3. Must be incorporated after 1st April, 2016 

to avail tax benefits under section 80 IAC. 

The must fulfill the following criteria to avail the benefits of section 56 of the Income Tax Act: 

1. The entity must be a DPIIT recognized startup 
2. The company’s sum of paid up share capital and share premium after issuance of new shares should not exceed Rs. 25 crore. 

You can register for DPIIT recognition here. 

5. Recognition of application: 

Once you have registered yourself, you will have to fill in details associated with your startup. These details include full address, representative information, director’s/partner’s particulars, startup business venture details and self certification. 

6. Documents required for startup india registration: 

What are the documents required for startup India Registration? 

Various documents are required to register your startup. They verify the information that you submit. These documents include: 

1. PAN number
2. Funding proof, if any
3. Incorporation/Registration certificate, 
4. Letter from the authorized representative of the entity, 
5. Patent details, trademark details, etc. 

7. Getting a recognition number: 

You startup India registration process will be completed once your documents and other particulars are verified. This generally takes 2 days after the submission of documents. Once your process is over you will get a startup recognition number and a startup registration certificate. 

Startup India Registration Benefits: 

Startup India registrations provide multiple statutory and financial benefits to startups. Startup India is a platform for startup owners to connect with fellow owners and members of the startup ecosystem. There are various modules and learning platforms to provide skillful insight to members. 

Startups can avail ease in compliance of 6 labor laws and 3 environmental laws with the help of self-certification online compliance. The simplification of labor law compliance will extend up to 5 years. Inspection shall be conducted only in case of significant complaints of violation. 

FAQ: 

1. Who can register for startup India? 

Not all entities can register themselves under the startup India scheme. Entities will have to fall under the following criterias to be eligible for registration: 

• The owner of the entity should be an adult above the age of 18. A minor cannot apply this scheme. 
• A corporation that has commenced its business for over 10 years is ineligible to apply. An entity who has been working less than 10 years can apply for startup India registration. 
• The entity must be registered as a partnership firm, private limited company or a limited liability partnership. 
• The annual turnover of the company should be less than Rs. 100 crore. This turnover will be examined on a yearly basis, for every year since incorporation. 
• The entity should be a new entity. It must not be registered after reconstruction or demerger of an existing company. 
• The business model should be innovative and scalable. The model should be able to prove returns and guarantee profits. It should have a good potential to create wealth and jobs. 
• Companies that are working towards development of new products must fulfill the following criteria: 

2. The product should use the latest technology or intellectual property. The company aims to develop, market and sell this product. 
3. Startups should have a goal towards the betterment of a subsisting product to improve the value of the customer or project. 
4. The entity must be involved in developing and marketing a differentiated product to improve the value of the customer or project. 

2. What is the benefit of startup India registration? 

Startup India registrations provide multiple statutory and financial benefits to startups. Startup India is a platform for startup owners to connect with fellow owners and members of the startup ecosystem. There are various modules and learning platforms to provide skillful insight to members. 

Startups can avail ease in compliance of 6 labor laws and 3 environmental laws with the help of self-certification online compliance. The simplification of labor law compliance will extend up to 5 years. Inspection shall be conducted only in case of significant complaints of violation.