Through Startup India Registration 2023 at startupindia.gov.in, the Indian government has taken a great initiative. The government has seized the chance to promote creativity among its citizens and to propel economic progress in our nation. This registration process will be participated in by a sizable number of people.
Startup India Registration 2023
Under the flagship startup India project, Startup India Registration 2023 refers to the registration of a business entity, such as a corporation, sole proprietorship, LLP, or partnership firm. In 2016, the Government of India launched the Startup India Scheme. The development of companies, the creation of jobs, and the creation of money are the main goals of Startup India.
A number of initiatives have been started under the Start-Up India Scheme to create a strong startup ecosystem and make India a nation of job creators rather than job seekers. The Department for Industrial Policy and Promotion oversees these initiatives (DIPP)
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|Name of Program||Startup India|
|Launched by||Prime Minister Shri Narendra Modi|
|Initiated Under||The Government of India|
|Incharge Ministry||The Ministry of Commerce and Industry|
|Level of Scheme||National Level|
Startup India Registration 2023 Objective
The Startup India Movement’s goals are listed below. The action plan includes assisting startups among other things:
- an improved infrastructure that includes incubators
- IPR facilitation, such as simplified patent application
- the improved regulatory environment, which includes tax advantages, simpler compliance, faster company formation, the quickest process, and more.
- Increasing financing opportunities is an aim.
- provide the startup ecosystem’s players with access to a sizable networking database.
Startup India Scheme Eligibility Criteria
To be eligible to apply for the Startup India program, you must meet the requirements listed below:-
- Your application for the steam must be made through a limited liability partnership or a private limited company.
- The company must be a brand-new business.
- The company can’t be older than five years.
- The company’s annual revenue should not exceed 25 crores.
- The Department of Industrial Policy and Promotion must approve the business (DIPP).
- An incubation fund, an angel fund, or a private equity firm should provide funding for the business.
- The Indian Patent and Trademark Office should have provided patron assurance to the company.
- An incubator must write a letter of recommendation for the company.
- The business must offer innovative items or products.
- Accelerators, Private Equity Funds, Angel Networks, and Angel Funds must all be registered with SEBI.
Startup India Registration 2023 Process
Organize Your Company
- Create a Private Limited Company or a Partnership firm to incorporate your company. To obtain the registration, follow the standard procedure, which includes filling out a form.
Join the Start-up India website.
- Fill out the form on the Startup India website to register your business as a startup under the Indian government’s Startup India program. Complete all fields and upload a predetermined amount of documents.
Steps to fill Startup India Registration 2023 Form
Step 1: Applicants must first visit the Startup India Official Link.
Step 2: You’ve arrived at the portal’s home page.
Step 3: After that, look for the registration link on the main page. As a result, another page appears in front of you.
Step 4: Aspirants must then enter the information requested on the Startup India Registration form.
Step 5: Enter entity information such as the Nature of the Entity, Sector, Industry, Company Incorporation Number, Categories, and Registration Date.
Step 6: Fill out the application form with the full address of the entity. Then comes the Authorized Representative’s information. Furthermore, information about funding and directors or partners.
Step 7: Fill in the intellectual property details.
Required PDF-formatted documents must be uploaded while Startup India Registration 2023.
- a letter of recommendation from,
- The Government of India has recognized all incubators or businesses that concentrate on early-stage companies without a business strategy, in DIPP format. Or
- A recommendation later made by the Central or any State Government of India, or a patent filed and published in the Journal of the Indian Patent Office in areas related to the nature of the business being promoted. Or
- A letter of funding with at least 20% equity from an Incubation Fund, Private Equity Fund, Angel Fund, Accelerator, or Private Equity Fund registered with SEBI that supports the innovative nature of business.
- You must upload your company’s or LLP’s certificate of incorporation, the registration certificate for a partnership company, and a brief description of your enterprise.
Indicate whether your startup requires tax exemption.
- For the first three years, startups in India are exempt from paying income tax, but in order to take advantage of these benefits, the business must be certified by the Inter-Ministerial Board (IMB). Companies who have registered with DIPP are given some leeway in this situation because doing so is sufficient to receive the benefits.
Self-certification of the subsequent requirements:
- You are a partnership firm, an LLP, or a private limited company.
- Not earlier than five years must pass since your company was founded or registered in India.
- The annual turnover of your business cannot exceed INR 100 crore.
- The business must continually develop new ideas or find new ways to improve the current system.
- Your company must be an original concept, not a division or reconstruction of an already existing business.
Get the Startup Recognition Number.
- An immediate recognition number will be given upon application for this registration. After the authority has reviewed all of your uploaded documents, only then do you receive the certificate of registration or incorporation.
Benefits for Startups India Registration
After receiving the DPIIT Certificate of Recognition for Startups, the startups can make use of the following advantages:
- The company will be able to self-certify compliance with three environmental laws and six labor laws after it has received the DPIIT Certificate of Recognition for Startups.
Patent Application for a Startup
- The DPIIT-approved startups will be eligible for fast-tracking of a patent application and will only be required to pay 80% of the costs for patents, trademarks, copyrights, and designs.
uniformity in public procurement
- Startups that have received DPIIT approval will be able to list their products on the public e-Marketplace.
- Startups that have received DPIIT recognition are not eligible to submit earnest money deposits.
- Start-Ups are exempt from prior experience and turnover requirements across all Central Government ministries and divisions.
Easy company dissolution
The 2016 Insolvent and Bankruptcy Code allows for an easy corporation dissolution 90 days after declaring insolvency.
a pool of funds
- Cash from the Alternative Investment Funds totaling Rs. 1000 crore would be available for the entrepreneurs.
Fund for Credit Guarantee
- Through the National Credit Guarantee Trust Company or SIDBI, startups can obtain an Rs. 2000 crore Credit Guarantee fund over a period of four years.
- The startup may seek tax exemption under section 80 IAC of the Income Tax Act after receiving the Certificate of Recognition.
- Startups recognized by the DPIIT may request an exemption from the angel tax.
- The DPIIT-recognized startups are exempt from income tax for three consecutive fiscal years out of their first ten years following formation after receiving the tax exemption clearance.
Learn more about Startup India Initiative’s Startup Tax Exemption from the official portal. Be cautious when submitting the Startup India Registration data and documents because any inaccuracy therein could result in a severe penalty of at least 25,000 Indian rupees (around 50%) of your paid-up capital. check here for more updates regarding government startups jksidco