What is Startup India Registration?

Startup India Registration refers to the process through which a startup company in India can officially register itself with the government under the Startup India initiative. This initiative was launched by the Government of India to promote and support entrepreneurship in the country by providing various benefits and incentives to startups. The registration process typically involves filling out an online form and submitting relevant documents to the Startup India portal. Once registered, startups become eligible to avail benefits such as tax exemptions, easier compliance procedures, access to funding, and other support services provided by the government and partnering agencies.

Advantages of Startup India Scheme

• Applicant is eligible to apply for 3 years income tax exemption
  Within the first ten years following their incorporation, eligible startups may be spared from paying income tax for three consecutive financial years.
• Eligibility for funding under the Rs. 10,000 crore FOF scheme
  Around Rs. 1600 crore has been invested in 251 startups under the Funds of Funds for Startups Scheme so far.For the remaining Rs. 8,400 crore corpus, you can be considered a startup.
• Priority Government Procurement & Tender Program
  Exemption from turnover requirements, prior experience requirements, and security deposits for tender submission. Potential of listing new products for market exposure on the government e-marketplace.
• No Angel Tax for funding up to Rs. 25 crore
  The Income Tax Act of 1961's Section 56(2) (VIIB) may additionally exempt investments made into qualified startups by accredited investors, non-residents, AIFs, and closely owned listed businesses.
• No more fear for Labor Law
  Startups no longer have to fear Labor Law Inspections. With a straightforward self-declaration, Recognized Startups can self-manage their PF, ESIC, Gratuity, and Environmental Law Compliance.
• 50% off on trademark expenses and an 80% refund on patent fees
  Rapid patent application tracking, a 50% upfront trademark fee savings, and an 80% patent filing fee rebate.
• Acquiring a loan from a foreign investor (ECB) is effortless
  Through an easy RBI compliance process, recognized startups can borrow up to $3 million in loans from non-resident investors (also known as external commercial borrowings, or ECBs) per financial year.
• Members of Private Limited can make deposits
  For a period of five years following the date of establishment in accordance with the 2014 Companies (Acceptance of Deposits) Rules.
• Eligibility for State Government Incentives
  The state governments of other Indian states have introduced numerous loan and rebate incentives, similar to the Gujarat State GST Rebate Scheme.

Criteria for Startup India Registration

• Have Partnership Firm/LLP/Private Ltd. Co.
• Innovative goods or services are provided by the company
• No more than te n years of registration
• The company has a business plan that has a strong chance of creating employment
• Not more than Rs. 100 crore is made in turnover
• The business model of the company has a high potential for creating money

Required Documents for Startup India Registration

• Certificate of Partnership Registration or Certificate of Incorporation
• Write a report outlining the company's efforts to create money, jobs, and innovation
• Business PAN card
• Website OR Deck of Company Profiles (Either One)