Don’t you think there must be some “Better than I thought of” kind of benefits why so many people choose Private Limited Company over so many other types of registrations out there?
What do you need to start a business in India? Only three simple things: Know your product better than anyone, know your customer, and have a burning desire to succeed.
These elements would boost initiating a startup but its journey would not be less than a roller coaster ride. But round the clock, the hassle of an entrepreneur on one side and constructive backing from the Government would work as a ladder of success for any Startup.
Every Startup Company with innovation & unique business ideas can apply for the Startup India Certificate issued by DIPP.
Startups will enjoy several privileges offered under Startup India Scheme. Startup India Scheme is implemented through the Department of Industrial Policy & Promotions (DIPP), Government of India.
A business will be recognized as a ‘Start-up’ under this scheme only after obtaining a Certificate of Registration from Start-up India Hub.
On meeting the above eligibility criteria, a start-up can avail of numerous benefits.
Startup India Registration Benefits under the Startup India scheme can be availed from various government or semi government-aided schemes such as:
Under this scheme, the interest-free loan is provided by Small Farmers’ Agribusiness Consortium (SFAC) to projects falling short of capital requirement for project completion.
Stand Up India Scheme bank loan from 10 lakh-1 crores to at least 1 SC/ST borrower and at least one women enterprise per bank branch.
NSIC registers MSEs under the SPRS scheme for participation in Government Purchases.
Government e-Marketplace [GeM] is an e-commerce portal for public procurement where private sellers including startups can sell products and services to government buyers and participate in government e-tenders.
Get registered as a seller on government e-Marketplace aka GeM portal
A registered startup can enjoy privileges over other private sellers. A Separate scheme launched for a startup named GeM Startup Runway Scheme.
On Gem Startup Runway scheme, Startups are entitled to avail exemption on:
Startups registered under the startup India scheme can avail easy exit route for winding up the company within 90 days under Insolvency & Bankruptcy Code, 2016, in case the startup business model failed.
Search and find various startups and connect with them. Get Mentorship, connect with investors and industries.
On obtaining a startup India certificate, the startups can avail various assistance in applying for intellectual property rights e.g. Trademark registration, patent, and copyright registration.
Recognized startups can avail following reliefs in IPR:
Startups shall be allowed to self-certify compliance for 6 Labour Laws and 3 Environmental Laws through a simple online procedure.
Once your company gets Startup recognition, you can further apply for Income Tax Exemption benefits available u/s 80IAC and U/s 56 relief for Angel Tax relief (Tax on Share Premium).
The startup is also associated with many businesses that provide some extent of benefits to the recognized startups. Some of the benefits are cloud services – Amazon Web Services, Digital Ocean, Caller Desk, etc. Management Software Services – Zoho, Fresh Works, Stack by, Legal, financial, and other business services.
Basic documents/ Documents Requirement for Startup India Registration
An entity shall cease to be a Startup on completion of ten (10) years from the date of its incorporation/ registration
If its turnover for any previous year exceeds one hundred (100) crore rupees.
Whichever is earlier.
To avail all the Startup India Registration Benefits by getting DIPP Recognition
It is best to apply for this Opportunity with the help of experienced professionals
Udyog Buddy(a DIPP Recognised Startup) will help you with filing Your Startup India Application without any “Hassles or Hiccups”, So you can focus on running your business. You can share your details with us CLICK HERE and our team of experts will get in touch with you.