What is Startup India Registration?

In these times, Startups are becoming very popular in India. In order to promote innovations & expansion of business, Government has promoted a Startup India initiative to recognize and promote startups. This scheme is envisaged at transforming India into a job provider rather than a job seeker. Only an entity registered as a Partnership firm or Limited Liability Partnership or a Private Limited Company can get recognition under Startup India.

Benefits of startup India scheme

• Eligibility to apply for 3 years Income Tax exemption

Eligible Startups can be exempted from paying income tax for 3 consecutive financial years out of their first ten years since incorporation.

• Eligibility to avail funding from Rs. 10,000 crore FOF scheme

Under Funds of Funds for Startups Scheme already more than Rs. 1600 crore is invested in 251 Startups.You may be one of the Startups for the remaining Rs. 8,400 crore corpus.

• Priority Govt. Tender and Procurement Scheme

Exemption from prior experience or turnover and Security deposit for filing tenders
Opportunity to list Startup products on Government e-marketplace for market visibility.

• No Angel Tax up to Rs. 25 crore funding

Investments into eligible Startups by Accredited Investors, Non-Residents, AIFs, closely held listed companies may also be exempted under Section 56 (2) (VIIB) of Income Tax Act, 1961.

• Finally, Labour Inspector Raj Gone for Startups

No more Labour Law Inspection fear for Startups. Recognised Startups can self manage their PF, ESIC, Gratuity and Environmental Law Compliance through simple self-declaration.

• 50% discount in Trademark & 80% rebate in Patents fees

Fast tracking of Startup Patent application, Upfront 50% discount on Trademark fees, 80% Rebate on Patent filing fees.

• Now Loan from Foreign Investors (ECB) is a cake walk

Recognised Startups can avail loans from Non-Resident Investors (External Commercial Borrowings-ECB) upto $ 3 million every financial year through simple RBI compliance mechanism.

• Private Limited can take deposit from its members

For a period of five years from the date of its incorporation under the Companies (Acceptance of Deposits) Rules, 2014.

• Eligibility for availing State Govt. Incentives

Like Maharashtra State GST rebate scheme, Many other Loan and Rebate Incentives are announced by different State Governments of India.

Documents required for Startup India Portal Registration

• Certificate of Incorporation
• MOA & AOA (in case of company)/Partnership deed (in case of LLP/Partnership firm)
• List of Directors/ Designated Partners
• Contact details of Directors/Partners
• Information related to Awards/certificates (if received by entity)
• Details related to amount of investment & investors.
• Details of Intellectual Property Rights Registration
• Website Link/Mobile App Link
• Udyam Registration/MSME Registration
• Business Plan & Growth Plan