START-UP INDIA REGISTRATION
Startup India is an initiative by the Indian Government aimed at fostering innovation and startups, thereby driving sustainable economic growth and creating significant employment opportunities. This initiative seeks to empower startups to thrive through innovation and design.
Outlined below are the objectives of the Startup India Movement, which include
According to legal requirements, registering a partnership firm necessitates a minimum of two partners. Partners in a partnership firm can assume various roles, each carrying distinct responsibilities:
Improving infrastructure by establishing incubation centers.
Facilitating Intellectual Property Rights (IPR), including simplifying patent filing.
Creating a more favorable regulatory environment, offering tax benefits, simplifying compliance, facilitating easier company setup, and providing faster mechanisms.
Increasing funding opportunities.
Establishing an extensive networking database for entrepreneurs and other stakeholders in the startup ecosystem.
Documents Required For Registering A Sole Proprietorship
Proof of Funding
Documents of Awards(Specifically solve the social problems and issues some awards or recognition from the government or other corporate entity)
Company Patent Documents
Brief Description of the Business and the operation of a startup working for Innovation, scalability or growth in employment opportunities.
Documents which are related of Incorporation certificate, registration certification etc..,
Benefits of Start-Up India Registration
Self-Certification
With the DPIIT Certificate, startups can self-certify compliance under 3 Environmental Laws and 6 Labour Laws.
Start-Up Patent Application
Recognized startups pay only 80% of fees for Patents, trademarks, copyrights, and design, and can fast-track patent applications.
Easier Public Procurement Norms
Recognized startups can list products on Government e-Marketplace and are exempt from submitting Earnest Money Deposit.
Exemption from Prior Experience/Turnover
Startups are exempted from such requirements in all Central Government ministries and departments.
Easy Winding up of Company
Companies can be wound up within 90 days of applying for insolvency under the Insolvency and Bankruptcy Code, 2016.
Funds of Funds
Startups become eligible for Rs. 10,000 crore funds of funds from Alternative Investment Funds.
Credit Guarantee Fund
Startups can access Rs. 2,000 crore Credit Guarantee fund through the National Credit Guarantee Trust Company or SIDBI over 4 years.
Tax Exemptions
Startups can apply for Tax exemption under section 80 IAC of the Income Tax Act upon obtaining the Certificate of Recognition. Additionally, they can apply for Angel Tax Exemption and are exempted from income tax for 3 consecutive financial years out of their first ten years since formation after receiving tax exemption clearance.
Startups can access various benefits upon obtaining the DPIIT Certificate of Recognition for Startups
Get Start Up India Registration
