A Complete Analysis of Startup India Registration
India’s startup scene is thriving, witnessing a surge in young entrepreneurs each year. With supportive government backing, startups contribute significantly to the nation’s economic growth. These ventures, offering innovative solutions to societal challenges, redefine existing products or services. The Startup India Initiative, championed by the Indian government, aims to nurture aspiring entrepreneurs.
The accompanying Startup India Scheme provides crucial financial and mentoring support for the growth and expansion of startup companies. This initiative not only promotes startups but also focuses on creating employment opportunities and fostering wealth generation. At RegisterKaro, we have a team of professionals who will help you in getting Startup India Registration without any hassle and at a very low cost.
What is a Startup?
It’s a newly established Company, generally small, which is started by one or more people. The main purpose behind a startup is to grow faster & provide something to fulfill the market gap in any industry. There are no fixed parameters set for a startup, as they are independent to some level. Startups initiate with a product concept & strive to grow at pace. Not all Startups do not have to make a profit during their initial stage.
Objectives of the Startup India Movement
The following are the objectives of the Startup India Movement:
- Enhanced Infrastructure, including incubation centers;
- IPR facilitation;
- A goal to increase the funding opportunities;
- Provide an extensive networking database for the entrepreneurs & other stakeholders in the startup ecosystem;
- The better regulatory environment including tax benefits, easier compliance improved establishing a Company, fastest mechanism & more.
Benefits of Startup India Registration
The following are the benefits of Startup India Registration:
1. Easy Access of Funds
Rs. 10,000 crores fund is set up by the Indian Government to provide funds to the startups as Venture Capital. The Government is also giving guarantees to the lenders to encourage banks & other financial institutions to provide Venture Capital.
2. Tax Savings for Investors
Individuals investing their capital gains in the venture funds set up by the Government will get an exemption from Capital Gains and this will help all the Startups to attract more investors.
3. Income Tax Exemption
Eligible startups can be exempted from paying Income Tax for 3 Consecutive F.Y. (Financial Years) out of their first 10 years since Incorporation.
4. Easily apply for Government Tenders
Startups in India can easily apply for Government Tenders and they are exempted from the prior experience or turnover criteria applicable for normal companies answering to Government Tenders.
5. Rebate in Trademark & Patent Filing
Startups working under the Startup India Registration Scheme will get a 50% rebate on Trademark Filing and an 80% rebate on Patent filing.
6. Easy Winding Up
The process of winding up of Company becomes very easy & it takes 90 days to wind up under IBC, 2016.
Eligibility Criteria for the Registration
Following is the eligibility criteria for Startup India Registration or DPIIT Certificate of Recognition:
- The Startup India Registration Certificate or DPIIT Certificate of Recognition is provided for the company that is registered as an LLP, Private Limited Company, or a registered Partnership Firm.
- To get the Registration Certificate, the firm should have an annual turnover of less than Rs. 100 crores for any of the previous Financial Year.
- The entity or company should be working towards the improvement/development of a product, service, or process.
- The entity or company should have a scalable business model with high potential for the creation of wealth & employment. The company or firm should have the capability to generate employment or create wealth.
- The period of the Company’s operations or existence shouldn’t exceed 10 years from the date of formation.
- To get a Startup India Registration Certificate or DPIIT Certificate of Recognition, the company shouldn’t have been registered by splitting up/recreating an already existing entity.
- Applicants shouldn’t have defaulted with any financial institution in the past.
Summary
RegisterKaro is the best legal services platform for Startup India Registration offering a variety of Company Incorporation services like LLP, Private Limited, Public Limited, Partnership, OPC, Section 8 Company, Producer Company, Indian Subsidiary, etc. RegisterKaro will help you with Startup India Registration from the comfort of your home offering you services that are very specialized & tailored for each individual.
Source
https://www.registerkaro.in/startup-india-registration
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