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START-UP RECOGNITION AND BENEFITS

  • SureTax Fincare simplifies the process of Registration, Compliance & Management of your business, by making it more convenient than ever.
  • Completely online, Quick & Hassle free process – Our Services can be availed from any Location in India or Abroad.
  • Our team of CA-accredited professionals provide expert guidance throughout every stage of the process

START-UP RECOGNITION AND BENEFITS

  • SureTax Fincare simplifies the process of Registration, Compliance & Management of your business, by making it more convenient than ever.
  • Completely online, Quick & Hassle free process – Our Services can be availed from any Location in India or Abroad.
  • Our team of CA-accredited professionals provide expert guidance throughout every stage of the process

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.

Eligibilty Criteria

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”.

Advantages

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 Agreemnt
  • 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

Frequently Asked Question

Limited resources: Startups often operate with limited financial, human, and infrastructure resources.

Market competition: Established players in the market pose challenges for startups trying to differentiate themselves and attract customers.

Uncertain market demand: Determining the demand for a new product or service can be challenging, requiring market research and constant adaptation.

Talent acquisition: Attracting and retaining skilled employees can be difficult due to limited resources and competition with established companies.

Scalability: Managing rapid growth and expanding operations while maintaining efficiency and customer satisfaction can be a significant challenge.

Financial management: Securing funding, managing cash flow, and budgeting pose ongoing challenges for startups.

Regulatory compliance: Navigating complex legal and regulatory frameworks specific to their industry requires time and resources.

Marketing and customer acquisition: Gaining customer attention and building a customer base requires effective marketing strategies and outreach.

Technological advancements: Keeping up with evolving technologies and adapting products or services accordingly is crucial but challenging.

Risk management: Startups face inherent risks, such as product failures and market shifts, requiring proactive risk management and contingency plans.
BSE (Bombay Stock Exchange) provides startups with the opportunity to list and raise capital through its BSE SME Exchange. This platform is specifically designed for small and medium-sized enterprises. To get listed, startups need to meet the eligibility criteria set by BSE SME Exchange, including factors like net worth and track record. Startups are required to appoint intermediaries such as a merchant banker and registrar to the issue. They also need to comply with regulatory requirements and submit the necessary documents for the listing process. Once listed, startups can access the capital market, enhance their brand visibility, and attract potential investors. BSE listing for startups offers a pathway to growth and expansion by providing them with the means to raise funds and gain credibility in the market.

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