Startup India Registration
According to the revised announcement that was published on 23rd May 2017, an organization will be considered a Startup: if it is incorporated in India as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership corporation (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008); and for ten years from the date of its incorporation/ registration; in any case, on account of Startups in the biotechnology division, the period will be as long as 10 years from the date of its incorporation/ registration; and if its annual turnover for any of the financial years since incorporation/ registration has not surpassed Rs. 100 crores; and if that it is working in the direction of innovation, development or improvement of items or procedures or services, or if that it is a scalable business model with a high capability of employment generation or wealth creation. An organization created by splitting up or reconstruction of existing commerce will not be considered a 'Startup'.
Also, a Startup should not more than 10 years old for startup recognition or not be incorporated before April 2016 to claim a Tax Exemption certificate.
Benefits of the Startup India Scheme
Startup India Scheme - Startup India Scheme is an initiative of the Government of India, and the benefit of the Startup India Scheme is the promotion of startups, generation of employment, and wealth creation. It was established on the 16th of January, 2016 by Prime Minister Narendra Modi.
Also under the Startup India Scheme, one more benefit of the startup India scheme is that eligible organizations could get recognized as Startups by DPIIT, so as to access a host of tax benefits, easier compliance, IPR fast-tracking, and many more.
Benefits of Startup Business
The Modi government highlights the accomplishment of monetary goals as one of the centers focuses on the administration. The governance for the betterment intends towards promoting employment creation, foreign investment, development of skills, and entrepreneurship. So as to culminate every one of these benefits, the Startup India Action Plan was launched.
Startups are entitled to a number of benefits, where a portion of these benefits are administrative and tax benefits, capital gains exception, as well as government help for startup funding. Also along with tax benefits, startups would likewise also enjoy the help of a self-certification compliance framework with regard to labor and environmental laws. This implies the startup's businesses would be excluded from any inspections of the place of business for up to 3-5 years.
Some other major benefits that the startup's businesses in India shall be qualified for incorporate an 80% reduction in patent registration fees and a 50% reduction in trademark filing. Startups businesses would likewise be benefited from free-of-cost legal help in conjunction with simplified entry and exit norms and protection of Intellectual Property Rights (IPR).
Advantages of Startup India Registration
The advantages of Startup India are:
• Startups shall be allowed to self-certify compliance with 6 Labour Laws and 3 Environmental Laws through a simple online process.
• For labor laws, no inspections shall be carried out for a period of 5 years. Startups might be inspected only upon receiving of reliable and confirmable grievance of infringement that is filed in writing as well as accepted through at least one level senior towards the inspecting officer.
• For environment laws, the startups that come under the white category would be able to self-certify compliance, as well as only random checks, would be carried out in such matters.
Benefits of being a startup
Prime Minister Narendra Modi has started and promoted Startup India.
The startup businesses are liable for many benefits for establishing start-ups, they are:
• The Indian Government has launched a mobile application as well as a website for easy registration for startups. For incorporating a startup, an individual is required to fill up a simple form online on the website and upload certain documents.
• Government of India also offers lists of facilitators for filing patents as well as trademarks at lower fees.
• An Rs. 10,000 crore fund has been set up by the government to give finances to the startups as venture capital. The government is in addition providing guarantees to the lenders to persuade banks and other financial institutions for giving venture capital.
• Also, Startups are exempted from income tax for 3 years provided they obtain a certification from the Inter-Ministerial Board (IMB).
• Startups could apply for government tenders and are exempted from the “prior experience/turnover” criterion applicable for regular firms answering to government tenders.
• Seven new Research Parks shall be set up to give facilities to startups in the R&D sector.
• Many of the compliances were simplified for startups to save time and money.
• Individuals investing their capital gains in the venture funds set up by the government would be an exemption from capital gains. This is going to help startups to attract more investors.
• The startups have the option to choose between the VCs, and they have the liberty to choose their investors.
• A startup could close its business within 90 days from the date of application of winding up.
• The government would be holding 2 startup fests annually both nationally and internationally for allowing various stakeholders of a startup to meet.
Benefits of the Startup India scheme
The benefits of the Startup India Scheme are Finance support, Government tenders, networking opportunities, etc. Startup India has been launched by Prime Minister Shri. Narendra Modi on 16th January 2016
The benefits of the startup India scheme are:
• Financial Benefits.
• Income Tax Benefits.
• Registration Benefits.
• Government Tenders.
• Huge Networking Opportunities.
1. Financial Benefits
The majority of the startups are patent-based. It implies they produce or give exceptional products or services. So as to register their patents, they need to acquire a heavy cost which is recognized as the Patent Cost. Under this scheme, the government gives an 80% reduction in patent costs. In addition, the procedure of patent registration and related is quicker for them. Likewise, the government pays the fees of the facilitator towards obtaining the patent.
2. Income Tax Benefits
The startup has a good amount of benefits under the Income Tax Act. After getting recognition a Startup can apply for Tax exemption under section 80 IAC of the Income Tax Act. After getting clearance for Tax exemption, the Startup could avail of tax holidays for 3 consecutive financial years out of its first ten years since incorporation. After getting recognition a Startup might apply for tax-exempt under Section 56 of the Income Tax Act (Angel Tax).
Special Benefits
• Manufacturing business startups are exempted from the criteria of ‘prior experience’ or turnover. However, there is no relaxation in the quality standards or the technical parameters regarding public procurement.
• National Credit Guarantee Trust Company or SIDBI ensures guaranteed funds for over 4 years.
• Labor Laws inspections shall not be carried out in the first 3 years of incorporation.
• Environment law compliances are only compulsory after self-certification.
• Winding up of the corporation could be completed in just under 90 days under the Insolvency and Bankruptcy Code.
3. Registration Benefits
Under the Startup India scheme, an application is there to make easy the registration. A single meeting is arranged for the Start-up India hub. Also, there is a single doubt and problem-solving window for them.
4. Government Tenders
Under the startup India scheme, startups have the benefit of participating in public procurement jobs by means of tenders in getting government tenders. Also, there is relaxation in prior experience, EMD, or turnover criteria.
5. Huge Networking Opportunities
Networking Opportunities imply the opportunity of meeting with a variety of startup stakeholders at a specific place and time. The government gives this opportunity by conducting 2 startup fests annually nationally and internationally level allowing various stakeholders of a startup to meet. The Startup India scheme also offers Intellectual Property awareness workshops as well as attentiveness.
Eligibility for Registration of Startup India
Private Limited Company /LLP/Partnership Firm
Company is offering Innovative products or service
Registered for not more than 10 years
Company is having a business model with a high potential for employment enervation OR
Turnover does not exceed Rs. 100Crore
The company is having a business model with a high potential for wealth creation
Registration Process for Startup India
There are many steps for registration of Startup India which are given below: -
1. Incorporate your business
First, you need to incorporate your business into a Private Limited Company or LLP or Partnership Firm. You just follow the normal procedure which involves filing a form-fitting to get the registration.
2. Register under Startup India
After that, you need to register the company or firm under the startup India scheme of the Indian government. You fill in all the details in the form which is available on the website of Startup India and then upload some documents as well.
3. Documents you need to upload in a PDF format only
You need a registration form along with the recommendation letter. You can get anyone’s recommendation letter which is mentioned below:
A recommendation letter from any post-graduate college in India or in a format that is approved by the DIPP. OR
A recommendation letter from an incubator that the Government of India funds as a part of any specified scheme to promote innovation; OR
A letter of funding not less than 20% in equity by an Incubation Fund, or Private Equity Fund, Angel Fund, Accelerator, Private Equity Fund and which is registered with SEBI that countersign with the innovative nature of the business; OR
A recommendation later by the Central Government or any State Government of India; OR
Registration or Incorporation Certificate.
You need to upload the certificate of incorporation of your company or LLP or a registration certificate for a partnership company and provide a brief description of your business.
4. If you need tax exemption then mention it
Startups do not have to pay income tax for the first three years in India but avail of some benefits when the company must be certified by the Inter-Ministerial Board. This is where the company registered with DIPP gets relaxation as the registration is enough to get the benefits.
5. Self-certification of the following conditions
Your company is a Private limited company or LLP or a partnership firm.
In India, Your business must be incorporated or registered not before 5 years.
Your company’s turnover must not be more than Rs.100 Crore.
Your business must be a fresh idea and not a breakdown or reconstruction of an existing business.
6. Get your recognition number
For the registration of the application, you will get a recognition number with immediate effect. After the authority goes through all your uploaded documents when you get the certificate of registration or incorporation only.
Now enroll your company into the Startup India scheme and reap all the benefits which are provided by the government.
Startup India Registration
According to the revised announcement that was published on 23rd May 2017, an organization will be considered a Startup: if it is incorporated in India as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership corporation (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008); and for ten years from the date of its incorporation/ registration; in any case, on account of Startups in the biotechnology division, the period will be as long as 10 years from the date of its incorporation/ registration; and if its annual turnover for any of the financial years since incorporation/ registration has not surpassed Rs. 100 crores; and if that it is working in the direction of innovation, development or improvement of items or procedures or services, or if that it is a scalable business model with a high capability of employment generation or wealth creation. An organization created by splitting up or reconstruction of existing commerce will not be considered a 'Startup'.
Also, a Startup should not more than 10 years old for startup recognition or not be incorporated before April 2016 to claim a Tax Exemption certificate.
Benefits of the Startup India Scheme
Startup India Scheme - Startup India Scheme is an initiative of the Government of India, and the benefit of the Startup India Scheme is the promotion of startups, generation of employment, and wealth creation. It was established on the 16th of January, 2016 by Prime Minister Narendra Modi.
Also under the Startup India Scheme, one more benefit of the startup India scheme is that eligible organizations could get recognized as Startups by DPIIT, so as to access a host of tax benefits, easier compliance, IPR fast-tracking, and many more.
Benefits of Startup Business
The Modi government highlights the accomplishment of monetary goals as one of the centers focuses on the administration. The governance for the betterment intends towards promoting employment creation, foreign investment, development of skills, and entrepreneurship. So as to culminate every one of these benefits, the Startup India Action Plan was launched.
Startups are entitled to a number of benefits, where a portion of these benefits are administrative and tax benefits, capital gains exception, as well as government help for startup funding. Also along with tax benefits, startups would likewise also enjoy the help of a self-certification compliance framework with regard to labor and environmental laws. This implies the startup's businesses would be excluded from any inspections of the place of business for up to 3-5 years.
Some other major benefits that the startup's businesses in India shall be qualified for incorporate an 80% reduction in patent registration fees and a 50% reduction in trademark filing. Startups businesses would likewise be benefited from free-of-cost legal help in conjunction with simplified entry and exit norms and protection of Intellectual Property Rights (IPR).
Advantages of Startup India Registration
The advantages of Startup India are:
• Startups shall be allowed to self-certify compliance with 6 Labour Laws and 3 Environmental Laws through a simple online process.
• For labor laws, no inspections shall be carried out for a period of 5 years. Startups might be inspected only upon receiving of reliable and confirmable grievance of infringement that is filed in writing as well as accepted through at least one level senior towards the inspecting officer.
• For environment laws, the startups that come under the white category would be able to self-certify compliance, as well as only random checks, would be carried out in such matters.
Benefits of being a startup
Prime Minister Narendra Modi has started and promoted Startup India.
The startup businesses are liable for many benefits for establishing start-ups, they are:
• The Indian Government has launched a mobile application as well as a website for easy registration for startups. For incorporating a startup, an individual is required to fill up a simple form online on the website and upload certain documents.
• Government of India also offers lists of facilitators for filing patents as well as trademarks at lower fees.
• An Rs. 10,000 crore fund has been set up by the government to give finances to the startups as venture capital. The government is in addition providing guarantees to the lenders to persuade banks and other financial institutions for giving venture capital.
• Also, Startups are exempted from income tax for 3 years provided they obtain a certification from the Inter-Ministerial Board (IMB).
• Startups could apply for government tenders and are exempted from the “prior experience/turnover” criterion applicable for regular firms answering to government tenders.
• Seven new Research Parks shall be set up to give facilities to startups in the R&D sector.
• Many of the compliances were simplified for startups to save time and money.
• Individuals investing their capital gains in the venture funds set up by the government would be an exemption from capital gains. This is going to help startups to attract more investors.
• The startups have the option to choose between the VCs, and they have the liberty to choose their investors.
• A startup could close its business within 90 days from the date of application of winding up.
• The government would be holding 2 startup fests annually both nationally and internationally for allowing various stakeholders of a startup to meet.
Benefits of the Startup India scheme
The benefits of the Startup India Scheme are Finance support, Government tenders, networking opportunities, etc. Startup India has been launched by Prime Minister Shri. Narendra Modi on 16th January 2016
The benefits of the startup India scheme are:
• Financial Benefits.
• Income Tax Benefits.
• Registration Benefits.
• Government Tenders.
• Huge Networking Opportunities.
1. Financial Benefits
The majority of the startups are patent-based. It implies they produce or give exceptional products or services. So as to register their patents, they need to acquire a heavy cost which is recognized as the Patent Cost. Under this scheme, the government gives an 80% reduction in patent costs. In addition, the procedure of patent registration and related is quicker for them. Likewise, the government pays the fees of the facilitator towards obtaining the patent.
2. Income Tax Benefits
The startup has a good amount of benefits under the Income Tax Act. After getting recognition a Startup can apply for Tax exemption under section 80 IAC of the Income Tax Act. After getting clearance for Tax exemption, the Startup could avail of tax holidays for 3 consecutive financial years out of its first ten years since incorporation. After getting recognition a Startup might apply for tax-exempt under Section 56 of the Income Tax Act (Angel Tax).
Special Benefits
• Manufacturing business startups are exempted from the criteria of ‘prior experience’ or turnover. However, there is no relaxation in the quality standards or the technical parameters regarding public procurement.
• National Credit Guarantee Trust Company or SIDBI ensures guaranteed funds for over 4 years.
• Labor Laws inspections shall not be carried out in the first 3 years of incorporation.
• Environment law compliances are only compulsory after self-certification.
• Winding up of the corporation could be completed in just under 90 days under the Insolvency and Bankruptcy Code.
3. Registration Benefits
Under the Startup India scheme, an application is there to make easy the registration. A single meeting is arranged for the Start-up India hub. Also, there is a single doubt and problem-solving window for them.
4. Government Tenders
Under the startup India scheme, startups have the benefit of participating in public procurement jobs by means of tenders in getting government tenders. Also, there is relaxation in prior experience, EMD, or turnover criteria.
5. Huge Networking Opportunities
Networking Opportunities imply the opportunity of meeting with a variety of startup stakeholders at a specific place and time. The government gives this opportunity by conducting 2 startup fests annually nationally and internationally level allowing various stakeholders of a startup to meet. The Startup India scheme also offers Intellectual Property awareness workshops as well as attentiveness.
Eligibility for Registration of Startup India
Private Limited Company /LLP/Partnership Firm
Company is offering Innovative products or service
Registered for not more than 10 years
Company is having a business model with a high potential for employment enervation OR
Turnover does not exceed Rs. 100Crore
The company is having a business model with a high potential for wealth creation
Registration Process for Startup India
There are many steps for registration of Startup India which are given below: -
1. Incorporate your business
First, you need to incorporate your business into a Private Limited Company or LLP or Partnership Firm. You just follow the normal procedure which involves filing a form-fitting to get the registration.
2. Register under Startup India
After that, you need to register the company or firm under the startup India scheme of the Indian government. You fill in all the details in the form which is available on the website of Startup India and then upload some documents as well.
3. Documents you need to upload in a PDF format only
You need a registration form along with the recommendation letter. You can get anyone’s recommendation letter which is mentioned below:
A recommendation letter from any post-graduate college in India or in a format that is approved by the DIPP. OR
A recommendation letter from an incubator that the Government of India funds as a part of any specified scheme to promote innovation; OR
A letter of funding not less than 20% in equity by an Incubation Fund, or Private Equity Fund, Angel Fund, Accelerator, Private Equity Fund and which is registered with SEBI that countersign with the innovative nature of the business; OR
A recommendation later by the Central Government or any State Government of India; OR
Registration or Incorporation Certificate.
You need to upload the certificate of incorporation of your company or LLP or a registration certificate for a partnership company and provide a brief description of your business.
4. If you need tax exemption then mention it
Startups do not have to pay income tax for the first three years in India but avail of some benefits when the company must be certified by the Inter-Ministerial Board. This is where the company registered with DIPP gets relaxation as the registration is enough to get the benefits.
5. Self-certification of the following conditions
Your company is a Private limited company or LLP or a partnership firm.
In India, Your business must be incorporated or registered not before 5 years.
Your company’s turnover must not be more than Rs.100 Crore.
Your business must be a fresh idea and not a breakdown or reconstruction of an existing business.
6. Get your recognition number
For the registration of the application, you will get a recognition number with immediate effect. After the authority goes through all your uploaded documents when you get the certificate of registration or incorporation only.
Now enroll your company into the Startup India scheme and reap all the benefits which are provided by the government.
Startup India Registration In Lucknow
Startup India is an Indian Government initiative that is intended to build a strong eco-system for nurturing innovation and startups in the country to drive sustainable economic growth and generate large scale employment opportunities. Through this initiative, the government aims to empower Startups to grow through innovation and design.
The objectives of the Startup India Movement are outlined below. The action plan envisages supporting the startups and more:
Eligibility Criteria
The startup must meet the following eligibility criteria to avail the DPIIT Certificate of Recognition:
Procedure to get DPIIT Certificate
The entity should follow the below-mentioned simple steps to get the DPIIT certificate of recognition.
Incorporation of the Business
As stated above, the entity must first incorporate the business as a Private Limited Company or a Partnership firm or a Limited Liability Partnership (LLP).
Get in touch with IndiaFilings.Com to register your company.
Registering Business with the Startup India Scheme
The business needs to be registered with the Startup India Scheme to get the DPIIT certificate of recognition.
Apply for Start-up Recognition
The applicant unit need to access the Start-up India Recognition portal for Register with Start-up India to get the DPIIT Certificate of Recognition for Startups.
Provide the following details in the Start-up Recognition application :
Get the Startup Recognition Number
The DPIIT Certificate of Recognition for Startups will be issued after examination of the application and documents submitted.
Once the ministry approves the application and provides the unique startup recognition number, the startup can be registered with tax benefits.
Benefits for DPIIT Recognized Startups
The startups can avail the following benefits after obtaining the DPIIT Certificate of Recognition for Startups:
Self Certification
After obtaining the DPIIT Certificate of Recognition for Startups, the entity will be allowed to self-certify compliance under 3 Environmental Laws and 6 Labour Laws.
Start-Up Patent Application
The DPIIT recognized startups are required to pay only 80% of the fees on Patents, trademark, copyrights and design, and the fast-tracking of a patent application will be available for startups.
Easier Public Procurement Norms
Easy winding up of Company
According to the Insolvency and Bankruptcy Code, 2016, the company can be wound up within 90 days of applying for insolvency
Funds of Funds
The startups will be eligible for Rs.10000 crore funds of funds from the Alternative Investment Funds.
Credit Guarantee fund
The startups can avail Rs.2000 crore Credit Guarantee fund through the National Credit Guarantee Trust Company or SIDBI over 4 years
Tax Exemptions
- After obtaining the Certificate of Recognition, the startup can apply for Tax exemption under section 80 IAC of the Income Tax Act.
- The DPIIT recognized startups can apply for Angel Tax Exemption.
- After obtaining the clearance for Tax exemption, the DPIIT recognized startups are exempted from income tax for 3 consecutive fiscal years out of its first ten years since formation.
Company Registration in Lucknow, Uttar Pradesh
Lucknow is one of the most growing district of India which is situated in Uttar Pradesh state. If you are looking to start your business in Lucknow and looking for Company Registration in Lucknow, then this is the right place for you, Startup CA providing all business registration services or startup registration services in Lucknow. As you better known Uttar Pradesh is a growing state of India and Lucknow is also growing day by day, which is good for your startup business. Any type of your business like Manufacturing, providing services across India, selling products, etc. can be easily possible in Lucknow, because all facility and all services available in Uttar Pradesh to run a business.
Proprietorship Firm Registration in Lucknow
A Proprietorship Firm Registration in Lucknow, also refer as the dealer or simply ownership, is a type of organization that is kept and run by one person and in which there is no legal perception between the owner and the business organization The proprietor is in direct control of all factor and is legally accountable for the budget of such business and this may include debts, loans, loss, etc.
A Proprietorship Registration in Lucknow is one of the effortless and smooth forms of business organization to register and cultivate in India. There is no difficult Sole Proprietorship Firm Registration in Lucknow and to start ownership only PAN Number for the owner, positive licenses and investment is required.
FilingBuzz is the rapid viable company registration services in India providing the Pvt. Ltd., LLP, Public Ltd. Company, Individual Company Registration in Lucknow .
Documents Required For Sole Proprietorship Registration in Lucknow
- PAN Card of the owner.
- ID Proof and Address Proof of the Sole Proprietor as Aadhaar Card, Driving License or passport, etc.
- Rent Agreement, No Objection Certification, and Electricity bills of the place where you want to register the business.
- If Proprietor has owned property then he needs sale act copy or electricity bills.
- Bank Statement copy or canceled cheque copy.
- Passport Size Photograph
How to register a Sole Proprietorship Firm in Lucknow?
- Required all documents and KYC verification.
- The next step is to name the business.
- There is no formal registration required, but the next step is to open a bank account in the name of the business.
- You can also register as a Small and Medium Enterprise (SME) under MSME Act, though not mandatory, it is beneficial to be registered under the same.
- You can also Register for GST if your turnover exceeds Rs 20 lakh.
- One can also get a Shop and Establishment registration done.
- We will submit documents on Government portal for Firm Registration.
- After Government approval you will receive Firm and GST Certificate on your register email id
Benefits of Proprietorship Firm Registration in Lucknow
- Individual ownership entity is one of the smoothest forms of organization in India.
- It is one of the simplest forms of trade to start with minimum ritual.
- Because it is an individual company, so the lowest agreement is put off.
- The personal obligation of sole ownership is commonly unlimited. Business capital & personal capital of sole proprietor claims to sole proprietorship acceptors.
- A sole proprietor has total adaptability in managing and controlling the business.
- The biggest benefit of a sole proprietorship is that it is having minimum taxes. An entity that has less than 3 LAKHS annual income is complementary to pay taxes.
Circumstances of Sole Proprietorship Registration in Lucknow
- There is unlimited flexibility of the owner. He is personally flexible for all the activities he enters.
- If something happens to the individual person taking care of the business, there is always the danger of business shutting down.
