STARTUP INDIA REGISTRATION - GET YOUR STARTUP INDIA CERTIFICATE
Most prominent initiative for start-ups in India
Are you ready to launch your startup in India? The Startup India initiative, a flagship program by the Government of India (GoI), is designed to empower and support entrepreneurs. Launched in 2016, the primary aim of the Startup India scheme is to cultivate a thriving startup ecosystem, positioning India as a global leader in innovation. By applying for the Startup India Registration, you can access many benefits, including tax exemptions, simplified compliance processes, and various funding opportunities. This Startup registration not only entitles your business to DPIIT recognition but also connects you to a robust network of resources and support systems, helping you scale and succeed in a competitive market.
BENEFITS OF STARTUP INDIA REGISTRATION
Startup India Registration offers an extensive range of benefits to support startups, like funding support and tax exemptions. We have outlined some of the benefits below:
Patents, Trademarks, and Design Registration
Funding Support
Many startups face challenges in accessing finance due to their lack of experience, absence of security, or insufficient cash flows, which often pose a high risk for potential investors. To mitigate this, the government has set up a fund with an initial corpus of Rs. 2,500 crore, aiming for a total of Rs. 10,000 crore over four years. This fund, functioning as a Fund of Funds, invests in the capital of SEBI-registered venture funds, thus providing indirect financial support to startups.
Self-certification under Employment and Labour Laws
Startups can self-certify compliance under specific labour and environmental laws, reducing the compliance burden and associated costs. This allows startups to self-certify under six labour laws and three environmental laws for three to five years post-incorporation.
Environment-Related Acts Exemption
Startups in the thirty-six industries categorised as 'white' by the Central Pollution Control Board are exempt from certain environmental clearances under three specific acts for up to three years.
Tax Exemption
DPIIT-recognized startups are entitled to an income tax exemption for three consecutive financial years out of their first ten years since incorporation. Moreover, startups can apply for an exemption from angel tax under Section 56 of the Income Tax Act, which is particularly beneficial for early-stage startups receiving external equity investments at valuations exceeding their fair market value.
Streamlined Winding up
Startups can shut down their operations within 90 days from the date of making the application, providing a hassle-free exit strategy for businesses that need to cease operations.
Relaxed Public Procurement Norms
Startups recognised by DPIIT are allowed to compete in public procurements without the typical prerequisites of prior turnover and experience requirements. This opens up significant business opportunities with government departments, ministries, and public sector undertakings.
DOCUMENTS REQUIRED FOR STARTUP INDIA CERTIFICATE
To apply for a Startup India certificate and obtain DPIIT recognition for your startup business, you are required to have the following documents:
- ● MoA & AoA or Partnership Deed
- ● Certificate of Incorporation
- ● PAN Card of Organization
- ● PAN Card of Authorized Person
- ● Aadhaar of Authorized Person
- ● Business Address Proof
- ● Bank Statement of Company
- ● Photograph of Directors
