DPIIT REGISTRATION AND BENEFITS

Overview

Start-up India is an initiative launched by the Government of India in January 2016 to promote entrepreneurship and innovation in the country. The objective of this initiative is to create a favorable environment for the growth of start-ups, encourage entrepreneurship and generate employment opportunities in India.

The Start-up India initiative has helped to create a vibrant start-up ecosystem in the country, which has led to the emergence of several successful start-ups in various sectors such as technology, healthcare, e-commerce and others. The initiative has also generated significant employment opportunities in the country and has contributed to the growth of the Indian economy.

Eligible entity can apply for registration under DPIIT ( Department for Promotion of Industry and Internal Trade), SureTax Fincare help in preperation for start up recognition, drafting of documents and filing of application with DPIIT.

Basic Requirements

01

Registration

It should be registered as a private limited company or a partnership firm or a limited liability partnership.

02

Turnover

Its turnover in any of the previous financial years should not exceed INR 100 Crores.

03

Duration

The entity can be considered a start-up for up to 10 years from the date of its incorporation.

04

Nature of business

The business should be engaged in innovation or improvement of existing products, services, or processes, with the potential to create employment and wealth.

05

For New Business Only

An entity that is formed by the splitting up or reconstruction of an existing business shall not be considered a “Startup”.

Benefits of StartUp Recognition

Tax Exemption

Once approved, a Start-up can benefit from tax exemption under Section 80IAC for three consecutive financial years out of its first ten years since incorporation.

Patents

Rebate in filing application for Patent & Fast-track examination of Patent Application

Angel Tax

Additionally, the Start-up can also receive tax exemption under Section 56 of the Income Tax Act, commonly known as Angel Tax.

Self- Certification

Start-ups can perform self-certification compliance for six labour laws and three environmental laws.

Ease

Easy winding up and Public Procurement Norms.

White Category

For environmental laws, Start-ups classified under the ‘white category’ (with a Pollution Index score of up to 20) can self-certify compliance

Documents Requirements

Required in Soft Copy Only

For Private Limited Company

Certificate of Incorporation
Copy of Memorandum of Association
Brief Information about company and its products or services
Brief profile of directors like email Id, contact details, and address
Annual Accounts and IT Return
URL of website,Social Media Profile,Mobile app link
Trademark, patent or any IPR filing number and logo

Required in Soft Copy Only

For LLP

LLP Registration Certificate
Copy of LLP Agreement
Brief Information about LLP and its products or services
Brief profile of Partners like email Id, contact details, and address
Annual Accounts and IT Return
URL of website,Social Media Profile,Mobile app link
Trademark, patent or any IPR filing number and logo

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MANDATORY REGISTRATIONS

NEED BASED REGISTRATIONS / LICENCES

INTELLECTUAL PROPERTIES

DRAFTING

INCOME TAX RETURN (ITR)

GOODS AND SERVICES TAX ( GST )

TDS / TCS

COMPANY COMPLIANCE

LLP COMPLIANCE

CONVERSIONS

ACCOUNTING & BOOK-KEEPING

pAYROLL MANAGEMENT

LOANS

INVESTMENTS

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DPIIT REGISTRATION AND BENEFITS