Startup India Registration
To register under the Startup India initiative, which is a government initiative to promote entrepreneurship and innovation, you need to follow a series of steps. Here's an overview of the process:
Eligibility Criteria:
To qualify as a "Startup" under the Startup India scheme, your business must meet the following criteria:
- Age of the Startup:
- The company should be registered as a private limited company, partnership firm, or limited liability partnership (LLP).
- The age of the startup should not exceed 10 years from the date of incorporation/registration.
- Annual Turnover:
- The annual turnover of the company should not exceed INR 100 crores in any of the previous financial years.
- Innovation/Scalability:
- The startup should be working towards innovation, development, deployment, or commercialization of new products, processes, or services driven by technology or intellectual property.
- Registered Entity:
- The company should be registered as a private limited company, partnership firm, or LLP under the Companies Act 2013 or the Limited Liability Partnership Act 2008.
Benefits of Startup India Registration
Once you successfully register, you can avail various benefits provided under the Startup India scheme, including
- Tax Exemption:
- Income tax exemption for 3 years.
- Exemption from capital gains tax on investments.
- Easier Compliance:
- Simplified procedures for regulations, including compliance with labor laws and environmental laws.
- Intellectual Property Benefits:
- Assistance in filing patents and trademarks, including reduced fees.
- Funding Support:
- Access to government funding through Start-Up India Hub, and eligibility for funding from Government's Fund of Funds for Startups (FFS).
- Networking and Partnerships:
- Opportunities for networking with other entrepreneurs, investors, and mentors through various Startup India events and programs.
By completing the above steps, you can register your business under Startup India and avail the various benefits that will help your startup grow and succeed.