Startup Registration
Starting from ₹4,000 + GST
Table Of Content
What is Startup Registration
Startups have become a major part of the Indian economy. India has now become the third largest space for startups in the world. It is a business in the beginning stages started by entrepreneurs to create innovative products or services. The Startup India Initiative was launched by the Government of India in January 2016. It creates an environment that encourages the establishment and growth of startups. It is run by the Department for Promotion of Industry and Internal Trade or DPIIT. It is responsible for companies to get recognized as startups. The government’s support and schemes contribute to the success of startups and positively impact the economy.
Startup registration is essential for startups to come under the Startup India scheme. It provides many benefits, such as tax exemptions, funding, and other support to help you expand your startup and scale new heights. The Startup India Scheme has been a game changer for startups. It allows businesses to enjoy numerous benefits and receive support and assistance. This includes easier funding chances, more networking opportunities, simpler compliance processes, better exposure in the industry, etc.
Benefits of Startup Registration
Eligibility for Startup Registration
Process for Startup Registration
Step 1
The startup has to be incorporated with a business structure such as a Private Limited Company, Limited Liability Partnership, or Partnership Firm. This process includes submitting a registration application with the necessary details to obtain a Certificate of Incorporation/Partnership registration. The best accounting firm in Pune can help you with the process to make it much easier and hassle-free.
Step 2
Visit the Startup India website to register your startup. Create an account by providing basic details such as name, email id, mobile number, password, etc. Create a profile on the website with information such as the name and stage of the startup, etc. A profile on the website gives you access to various resources, funding options, etc.
Step 3
You can apply for the Department for Promotion of Industry and Internal Trade Recognition on the Startup India website. You can click on the ‘Apply for DPIIT Recognition’ option under the Recognition section of the website. You will be taken to the National Single Window System, i.e., the NSWS website.
Step 4
You need to fill out a ‘Startup Recognition’ application form on the NSWS website. This is required to get DPIIT recognition for your startup. Fill in the necessary details in the form. This includes information about the incorporation date of the startup, type of business, details of the directors, registered address, activities of the startup, etc.
Step 5
After the necessary details are entered in the application form, you can submit all the relevant documents related to your startup. You will receive a recognition number assigned to the startup after submitting the application. The certificate of recognition will be issued after the details you submitted related to your startup are reviewed and verified.
Step 6
Once you receive the recognition certificate, you can apply for tax exemption under Section 80 IAC of the Income Tax Act with the help of the best accounting firm. This makes your startup eligible for income tax exemption for 3 consecutive financial years.
Documents Required for Startup Registration
FAQs
What are the benefits of startup registration?
There are many benefits to registering your startup under the Indian government’s Startup Scheme. This includes the chances to connect with others, support to raise money, simple compliance processes, etc.
What is the purpose of the Department for Promotion of Industry and Internal Trade?
The Department for Promotion of Industry and Internal Trade is responsible for fulfilling the Startup India initiative. DPIIT provides recognition and support to startups and fosters the startup ecosystem.
What is the fee to register your startup on the website?
You don’t need to pay fees to register your startup under the Startup India Scheme on the website.
How can startups get funds under the Startup India Scheme?
Some ways your startup can be funded include funding support offered by various government schemes, crowdfunding, venture capitalists, angel investors, incubators, etc.
Is it necessary to register my startup under the Startup India Scheme?
It is optional to register your startup under the Startup India Scheme by reaching out to the best accounting firm. It provides many benefits that can prove helpful for your startup.
Can an existing company register as a startup?
Yes, an existing company can register as a startup and get recognition from the DPIIT. However, the entity needs to meet the necessary criteria provided by the government to be counted as a startup.
Can sole proprietorships apply for registration?
No, sole proprietorships cannot be registered under the Startup India scheme.