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Startup India Registration

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Startup India Registration in India

Startup India is an initiative launched by the Government of India with the primary aim of fostering entrepreneurship and promoting innovation. It was introduced to build a robust ecosystem for nurturing startups in the country. The initiative focuses on creating an enabling environment for startups to grow, thrive, and contribute to economic development. Key objectives of Startup India include:

  • Promoting Entrepreneurship: Encouraging more individuals to take the entrepreneurial route by providing support and incentives.
  • Ease of Doing Business: Simplifying regulations and procedures to reduce the bureaucratic burden on startups.
  • Access to Funding: Facilitating easier access to funding through various schemes and networks.
  • Tax Benefits: Providing tax exemptions and benefits to eligible startups to promote growth and sustainability.
  • Innovation: Encouraging innovation and research-driven entrepreneurship across various sectors.

Benefits of Startup India Registration:

Startup India registration offers a range of benefits aimed at fostering the growth and sustainability of startups in India. Here are some key benefits:

Tax Exemptions:

Startups registered under Startup India are eligible for income tax exemption for the first three consecutive years of operation, provided they meet certain criteria.

Fast-tracking of Patent Applications:

Startups can avail of faster examination and approval of their patent applications through the Startup India initiative, which helps protect their innovations swiftly.

Ease of Compliance:

Startups are allowed to self-certify compliance with certain labor and environmental laws, reducing the regulatory burden and facilitating smoother operations.

Access to Funding:

Startups can access various funding schemes and networks facilitated by the government, including funds for seed funding, venture capital, and angel funding.

Government Procurement Benefits:

Startups are exempted from certain criteria such as "prior experience/turnover" requirements when participating in government tenders, making it easier to secure government contracts.

Networking Opportunities:

Startup India provides opportunities for startups to network with industry leaders, investors, mentors, and fellow entrepreneurs through various events, workshops, and seminars organized under the initiative.

Recognition and Visibility:

Startups registered under Startup India receive official recognition from the Government of India, which enhances their credibility and visibility, thereby attracting potential customers and investors.

Support Ecosystem:

Startups can benefit from the extensive support ecosystem provided by Startup India, including legal support, incubation facilities, mentorship, and access to international markets through various partnerships and initiatives.

Eligibility Criteria:

To qualify for Startup India registration and its associated benefits, startups need to meet specific eligibility criteria set forth by the Government of India. Here are the key eligibility requirements

  • Entity Type: The startup should be registered as a private limited company, partnership firm, limited liability partnership (LLP), or any other entity recognized under the Companies Act, 2013, or the Limited Liability Partnership Act, 2008.
  • Age of the Startup: The startup should be up to 10 years old from the date of its incorporation/registration.
  • Annual Turnover: The annual turnover of the startup should not exceed ₹100 crores in any of the previous financial years since its incorporation/registration.
  • Innovation and Development:The startup should aim to develop or innovate new products, processes, or services driven by technology or intellectual property.
  • Certification: The startup should obtain a certificate of eligibility from the Inter-Ministerial Board (IMB) set up for this purpose.

These criteria ensure that the benefits provided under Startup India are availed by genuine startups that are in the early stages of their business lifecycle and are focused on innovation and growth. Meeting these requirements allows startups to register under Startup India and access various incentives, support, and recognition provided by the government to foster their development and success.

How to Register:

Online Registration:

Visit the Startup India portal (www.startupindia.gov.in) and fill out the registration form.

Recognition Certificate:

Once your application is verified and approved, you will receive a recognition certificate from the DPIIT (Department for Promotion of Industry and Internal Trade).

Steps After Registration:

  • Avail Benefits: Startups can start availing benefits such as tax exemptions, funding opportunities, and more.
  • Compliance: Ensure compliance with ongoing requirements such as annual filings and renewals as per government regulations.

Why Choose Filinglounge for Startup India Registration

Choosing FilingLounge for Startup India registration offers several advantages that can streamline the process and ensure compliance with all requirements:

Expertise and Experience:

FilingLounge specializes in business registration and compliance services, including Startup India registration. Their experienced professionals understand the intricacies of the process and can guide startups through each step efficiently.

End-to-End Support:

FilingLounge provides comprehensive support from initial consultation to final registration. They assist in preparing and filing the required documents, ensuring accuracy and compliance with government regulations.

Time Efficiency:

By leveraging FilingLounge's services, startups can save valuable time that would otherwise be spent navigating bureaucratic procedures. Their streamlined approach can expedite the registration process, allowing startups to focus on their core business activities.

Compliance Assurance:

FilingLounge ensures that all regulatory requirements for Startup India registration are met. They stay updated with the latest government policies and guidelines, minimizing the risk of errors or omissions in the application process.

Additional Services:

Beyond registration, FilingLounge may offer additional services such as tax advisory, accounting, and legal support, which are beneficial for startups looking to maintain compliance and grow their business seamlessly.

Customer Support:

FilingLounge provides dedicated customer support, addressing queries and concerns promptly throughout the registration process and beyond.

Choosing FilingLounge for Startup India registration can thus provide startups with peace of mind, knowing that their registration process is handled efficiently by experts, allowing them to focus on building and scaling their business.

Related Guides

Documents Required For Startup India

Proprietorship vs Limited Liability Partnership (LLP) vs Company

Features Proprietorship Partnership LLP Company
Definition A sole proprietorship is an unregistered business entity managed by a single individual. A legal contract between multiple parties to jointly manage and run a business operation. A business type that combines aspects of a partnership and the limited liability of a corporation. A registered business where owners and shareholders have limited liability.
Ownership
  • Single individual
  • Min 2 Partners
  • Max 50 Partners
  • Designated Partners: Min 2(No upper limit)
  • Min: 1 shareholder (for a private company), 7 shareholders (for a public company)
  • Max: 200 shareholders (for a private company), no upper limit (for a public company)
For One Person Company
  • Minimum: 1 individual
  • Maximum: 1 individual
Registration Time 7-10 working days
Promoter Liability Unlimited Liability Limited Liability
Documentation
  • Partnership Deed
  • PAN card of the partnership firm
  • LLP Agreement
  • Incorporation Certificate
  • PAN card of the LLP
  • MOA
  • AOA
  • Certificate of incorporation
  • PAN card of the company
Governance No specific governing law Governed by the terms outlined in the partnership deed Governed by the LLP agreement Governed by a formal structure including a Board of Directors
Transferability Business cannot be transferred Ownership transfer requires the consent of all partners as outlined in the partnership deed. Transferable Easily Transferable for public companies. In private companies, there might be some restrictions.
Compliance Requirements
  • Income tax filing if the turnover exceeds Rs. 2.5 lakhs.
  • Must file ITR 5
  • Must file ITR 5
  • File Form 11
  • Form 8
  • MCA filing
  • Auditor's appointment
  • File ITR 6

Startup India FAQ's

What is Startup India?

Startup India is an initiative by the Government of India to promote entrepreneurship and support startups through various incentives and benefits.

Who is eligible to register under Startup India?

Startups registered as private limited companies, LLPs, or partnership firms that are less than 10 years old with an annual turnover not exceeding ₹100 crores are eligible.

What are the benefits of registering under Startup India?

Benefits include tax exemptions, fast-tracking of patent applications, self-certification for compliance, access to funding schemes, and easier access to government procurement opportunities.

How can I register my startup under Startup India?

Startups can register online through the Startup India portal (www.startupindia.gov.in). They need to submit required documents such as a Certificate of Incorporation, a description of the business, and details of directors/partners.

What documents are required for Startup India registration?

Documents typically include a Certificate of Incorporation/Registration, a brief description of the business, details of directors/partners, and PAN/Aadhaar details of directors/partners.

How long does it take to get Startup India recognition?

The processing time can vary, but typically, startups receive their recognition certificate from the DPIIT (Department for Promotion of Industry and Internal Trade) after their application is verified and approved.

What support does Startup India provide after registration?

Startup India offers ongoing support such as networking opportunities, access to mentorship programs, participation in events and workshops, and access to various government schemes and initiatives.

Do I need to renew my Startup India registration annually?

No, Startup India registration is a one-time process. However, startups need to comply with ongoing requirements such as filing annual returns and meeting eligibility criteria for benefits.

Can foreign-owned startups register under Startup India?

Yes, foreign-owned startups that meet the eligibility criteria can register under Startup India. They need to comply with the same registration process and requirements as domestic startups.

Can startups from any industry register under Startup India?

Yes, startups from any industry sector can register under Startup India as long as they meet the eligibility criteria related to age, turnover, and entity type.

What are the criteria for obtaining tax benefits under Startup India?

Startups can avail of income tax exemptions for the first three consecutive years if they are recognized under Startup India. They need to meet specific criteria related to turnover and compliance.

Can startups registered under other government schemes also register under Startup India?

Yes, startups registered under other government schemes can also register under Startup India, provided they meet the specific eligibility criteria and comply with the registration process.

Related Business Registrations

In addition to registration or incorporation, a business may require other registrations depending on the business activity undertaken. Talk to an Advisor to find out registrations your business may require post registration.

FSSAI Registration
IE Code
Trade License
Professional Tax
Company Annual Filing
GST Registration

MCA Compliance

Each registered entity is required to meet its compliance duties at the close of each financial year. This generally includes auditing financial statements, filing income tax returns, and submitting annual forms to the Ministry of Corporate Affairs (MCA).

Compliance For Form Due date Penalty
Commencement of Business Intimation to Registrar for Commencement of Business Within 180 days from incorporation INR 50,000 on company and INR 1,000 per day on directors for each day of default
Annual KYC of Directors DIR 3 E-KYC 30th September of every year INR 5,000 for late filing
Appointment of Auditor Form ADT 1 Within 15 days of the AGM INR 300 per day (max INR 12,000)
Financial Statements Form AOC 4 Within 30 days from the AGM INR 100 per day of default
Annual Return Form MGT 7 Within 60 days from the AGM INR 100 per day of default

All Limited Liability Partnerships (LLP) in India must file annual returns with the Ministry of Corporate Affairs (MCA). FilingLounge provides affordable services to help you keep your LLP compliant.

LLP Compliance Form Due date Penalty
Annual KYC of Directors DIR 3 KYC 30th September of every year INR 5,000 for late filing
Annual Return Form 11 May 30th every year INR 100 per day of default
Statements of Accounts and Solvency Form 8 30th October every year INR 100 per day of default (minimum penalty INR 10,000)

In addition to the filings listed above, there may be other compliance requirements relevant to LLPs. To ensure all compliance needs of your LLP are met, please seek assistance from a Filinglounge Advisor.

Entity Compliance Form Due date
Private Limited Company Annual Return MGT-7 Within 60 days from the conclusion of the AGM
Financial Statements AOC-4 Within 30 days from the conclusion of the AGM
DIR-3 KYC DIR-3 KYC 30th September every year
Return of Deposits DPT-3 30th June every year
Appointment of Auditor ADT-1 Within 15 days from the conclusion of the AGM
Income Tax Return (Non-audit case) ITR-6 31st July every year
Income Tax Return (Audit case) ITR-6 30th September every year
Annual GST Return GSTR-9 31st December of the subsequent financial year
MSME Form Form 1 (MCA) half-yearly return by 31st October (April to September), & 30th April for the period October to March every year
Limited Liability Partnership Income Tax Return (Non-audit case) ITR 5 31st July every year
Income Tax Return (Audit case) ITR 5 30th September every year
Annual Return Form 11 30th May every year
Financial Statements Form-8 30th October every year

Note : There might be extra filings needed depending on your business type and activities. Talk to a FilingLounge advisor to get the right guidance for your company's compliance.