Startup India is an initiative launched by the Indian Government to promote and support the growth of start-ups in the country. It aims to create a conducive environment for start-ups to thrive, generate employment opportunities, and contribute to economic growth.
The Startup India registration process is a simple and straightforward procedure that can be completed online on the Startup India portal. To register a start-up under this scheme, the entity must meet certain eligibility criteria, which include:
Type of Entity: The entity must be registered as a Private Limited Company, Partnership Firm or Limited Liability Partnership (LLP).
Age of Entity: The startup should not be more than ten years old from the date of incorporation.
Turnover: The turnover of the entity should not exceed INR 100 crores in any of the previous financial years.
Innovation: The entity should be working towards innovation, development, deployment, or commercialization of new products, processes, or services driven by technology or intellectual property.
Certification: The entity should have obtained certification from the Inter-Ministerial Board (IMB) set up by the Department of Industrial Policy and Promotion (DPIIT).
Once the entity meets the eligibility criteria, it can apply for Startup India registration through the Startup India portal. The application requires basic information about the start-up, including the name, address, and date of incorporation. The applicant also needs to provide details of the business model, funding, and any awards or recognitions received.
After submitting the application, the DPIIT will review the application and, if all the requirements are met, issue a Certificate of Recognition as a "startup" to the entity. The certificate provides various benefits and incentives to the start-up, such as tax exemptions, easier access to funding, and simplification of regulatory compliance procedures.
In conclusion, the Startup India registration process is a simple and straightforward procedure that provides numerous benefits to eligible start-ups. It aims to create a robust ecosystem for start-ups in India, which will not only generate employment opportunities but also contribute to the overall economic growth of the country.
DPIIT stands for the Department for Promotion of Industry and Internal Trade, which is a part of the Ministry of Commerce and Industry in the Indian government. The DPIIT plays a crucial role in the development and promotion of the industrial sector in the country. It also manages several programs and schemes to support the growth of industries, startups, and small businesses in India. Some of the benefits of DPIIT programs and schemes are:
1. Startup India Scheme: The Startup India scheme is an initiative by DPIIT to promote and support the growth of startups in the country. It provides various benefits and incentives to eligible startups, such as tax exemptions, easier access to funding, and simplification of regulatory compliance procedures.
2. Make in India Initiative: Make in India is another flagship initiative of DPIIT that aims to transform India into a global manufacturing hub. The initiative provides various incentives and benefits to domestic and international companies to invest in India and set up manufacturing facilities.
3. Single Window Clearance System: DPIIT has launched a single-window clearance system for businesses to facilitate ease of doing business in India. The system allows businesses to obtain all necessary clearances and approvals through a single online portal, saving time and reducing red tape.
4. Industrial Corridors: DPIIT is developing several industrial corridors across the country to promote the development of industries in specific regions. These corridors provide various infrastructure facilities and incentives to attract investments and promote the growth of industries.
5. Intellectual Property Rights: DPIIT also manages the intellectual property rights of businesses in India. It provides a framework for the registration and protection of patents, trademarks, and copyrights, ensuring that businesses can protect their innovations and ideas.
In conclusion, DPIIT programs and schemes provide several benefits to businesses, startups, and industries in India. These initiatives aim to create a conducive environment for businesses to thrive, generate employment opportunities, and contribute to the overall economic growth of the country.
1. Private Limited Companies
2. Limited Liability Partnerships
3. One-Person Company
4. Partnership Firms
5. Producer Companies
6. Public Limited Companies
7. Nidhi Companies
It's important to note that the eligibility criteria and types of businesses may be subject to change, and it's advisable to check the latest information from the official sources before applying for startup registration in India.
Question: Who is eligible to register under the Startup India scheme?
Answer: Entities that are registered as a Private Limited Company, Partnership Firm, or Limited Liability Partnership (LLP) and have been incorporated less than ten years ago with a turnover of less than INR 100 crores in any previous financial year and are working towards innovation, development, deployment, or commercialization of new products, processes, or services driven by technology or intellectual property are eligible to register.
Question: What are the benefits of registering under the Startup India scheme?
Answer: Registered startups under the Startup India scheme are eligible for several benefits, such as tax exemptions, easier access to funding, simplification of regulatory compliance procedures, and eligibility for government tenders.
Question: How can I register my startup under the Startup India scheme?
Answer: The registration process for the Startup India scheme can be completed online through the Startup India portal. The entity must provide the necessary documents and information as per the requirements of the scheme.
Question: Is there any fee for registering under the Startup India scheme?
Answer: No, there is no fee for registering under the Startup India scheme.
Question: How long does it take to complete the Startup India registration process?
Answer: The Startup India registration process typically takes around 7-10 working days from the date of application submission. However, the timeline may vary based on the completeness of the application and the documents provided.
Question: Can a startup registered under the Startup India scheme be deregistered?
Question: Yes, a startup registered under the Startup India scheme can be deregistered if it no longer meets the eligibility criteria or if false information was provided during the registration process.
To register a startup under the Startup India scheme, the following documents are required:
1. Certificate of Incorporation or Registration: The entity must provide the certificate of incorporation or registration as a Private Limited Company, Partnership Firm, or Limited Liability Partnership (LLP).
2. PAN Card: The Permanent Account Number (PAN) card of the entity and its directors or partners is required for registration.
3. Aadhaar Card: The Aadhaar card of the entity and its directors or partners is required for registration.
4. Business Plan: A detailed business plan that outlines the product or service offered by the startup, its market potential, revenue model, and growth strategy must be provided.
5. Self-Certification: The entity must provide a self-certification stating that it meets the eligibility criteria for the Startup India scheme.
6. Recognition by DIPP: If the entity has already received recognition from the Department of Industrial Policy and Promotion (DIPP), then the recognition number and the date of issuance must be provided.
7. Patent or Trademark Registration: If the entity has filed for or obtained a patent or trademark registration, then the certificate of registration must be provided.
8. Annual Returns: The entity must provide the annual returns filed with the Registrar of Companies (ROC) for the previous financial year.
9. Income Tax Returns: The income tax returns filed by the entity for the previous financial year must be provided.
10. With GST
It's important to note that additional documents may be required based on the specific nature of the business or startup. Therefore, it's advisable to check the Startup India website for a detailed list of documents required for registration.
So why is business registration so important? Not only is it a legal requirement, but it also gives your business some credibility and recognition. It can also help you avoid any potential problems down the road, so it is well worth the effort to ensure you do it right.
If you're starting a business in India, one of the first things you'll need to do is register it. That's where EVTL India comes in. We're experts in business registration and compliance, and we can help you get your startup registered quickly and easily. We'll also help you stay compliant with all the latest regulations, so you can focus on running your business. Reach us know to get your Company certified effortlessly!
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