SERVICESStartup India Registration

Government of India has introduced the Startup India scheme in 2016 with a motive to promote the growth of start-ups in India. Under this scheme government has taken several vital steps for building a robust startup ecosystem and making India a country of job creators instead of job seekers. Department for Industrial Policy and Promotion (DIPP) manages the programs under Startup India Scheme. The startup India registration process has broadened the scope of development by creating job opportunities in the Indian economy.

What is Start up?

A startup is a recently settled business, normally small which is started by single or group of people. What separates it from other new organizations is that a startup offers another item or service that isn't being given somewhere else similarly. The motives are innovation development.

Any company with the following features falls into the category of Startup and is also eligible to avail the benefits of DPIIT:

• Date of Incorporation does not exceed 10 years
• Either your company is a Private Limited Company or a partnership firm or a limited liability partnership firm
• Annual turnover does not exceed Rs. 100 crores since its incorporation for any of the financial years
• The business should be new it must not be the result of split or restructure of an already existing business
• The startup should be working towards innovation or development of new products or services or in the direction of improvising an existing one. The business model should be highly potential with the purpose to create wealth & generate employment
• Obtaining certificate from the Inter-Ministerial Board is essentially required; the Board is set up by the DIPP

What are the benefits from DPIIT?

After creating the profile on the website for Startup India, the next step is to avail the recognition from Department for Promotion of Industry and Internal Trade (DPIIT). This recognition aids the startups in availing benefits which includes accessing of high-quality intellectual property services and other resources, simple winding of company, advantage of self-certification under environment and labour laws, reduction in the norms of public procurement, accessibility to fund of funds, exemption of tax for consecutive three years and exemption on tax on investment above fair market value.

DPIIT registered companies can avail the following benefits provided under Startup India Registration Scheme:

• Simplification And Handholding: With much easier compliance and an exit process for failed start-ups, legal support has also become feasible and smooth.
• Funding And Incentives: Exemption is provided on income Tax and Capital Gain Tax, apart from that funds are raised to infuse more capital into the startup.
• Incubation And Industry Academia Partnership: Developing number of incubators and innovative labs, events, competition and grants.