Startup India Registration Certificatio1

1. Startup India Registration Certification: Eligibility & Benefits It is undeniably true that Indian startups are becoming increasingly well known. Under our PM Narendra Modi’s direction, the government established its beautiful claims to support and grow Startup India. Its main goal is to create robust networks of connections that will support the development of businesses. Startup India scheme use innovation and technology to better educate startups. This startup contributes significantly to the rise in Indian frugal living. Many entrepreneurs in India who are starting new businesses have benefited greatly from this Startup ecosystem. What is Startup India Registration Certification? One of the government ministries, the Department for Promotion of Industry and Internal Trade (DPIIT), is responsible for establishing the Startup India initiative, which aims to support new businesses in growing and developing the Indian economy. One kind of identity verification offered by the Indian government is the DPIIT (Department for Promotion of Industry and Internal Trade) Recognition which is quite useful. The Department of Industrial Policy and Promotion (DIPP) number, which is supplied by the Indian government, aids startups in enrolling for the firm India program, which offers several incentives to their firm and also strengthens the Indian economy, inspire youth entrepreneurship, and give them more confidence to start their own businesses. In 2015, the Indian government launched the Startup India Certificate of Recognition. In an effort to strengthen the Indian economy, the government is taking the lead in promoting corporate development. Those with creative ideas but very less or insufficient funds to launch a

2. business might benefit from our startup program. The numerous innovative concepts and ideas might expand their businesses with the aid of this Startup India Registration Certificate. Every individual starting a business in any industry has to have the Startup India Registration Certificate which is a mandatory one, which includes information on intellectual property rights such as copyright, patent, and trademark registration. Along with that certificate, there are other things that will help the newly established business. Eligibility for getting the Certificate •This startup has applied for this certificate of recognition; it must have had a revenue of less than 100 crores in the preceding fiscal year. If a company’s turnover exceeds 100 crores, it is not qualified to receive the Indian Recognition Certificate. •The startup has to be formed either as a Partnership firm or a Private Limited Company. •A business will be regarded as a startup for ten years from the date of company incorporation. •Rebuilding the current company is ineligible for recognition; the startup should have creative concepts and make improvements to any product; •Service and Process: The startup needs to generate cash and new job possibilities. This kind of startup is qualified to receive Startup India recognition. Validity of Startup India Registration Certification The Indian startup recognition certificate is valid for only ten years from the date of the company’s registration and incorporation. Its validity also expires when the company’s revenue exceeds or more than one hundred crores. Advantages of Registering with Startup India The following advantages are available to a startup that is granted “DPIIT Startup Recognition (The Department for Promotion of Industry and Internal Trade)”

3. 1. Absence of Taxes: •Under the 80 IAC following the Startup’s acceptance of a Recognition Certificate, they are eligible for a tax holiday or exemption for three out of the ten years from the date of its incorporation. •Under section 80 IAC of the Income Tax Act, a startup may request a tax exemption after receiving recognition. Once a startup has received permission for tax exemption, the startup is eligible to take advantage of a tax vacation for three consecutive fiscal years after its first 10 years of operation. •Only Limited Liability Partnerships and Private Limited Companies are eligible for Section 80IAC for the tax exemption. Startup India: Section 56 of the Income Tax Act exempts certain expenses (Angel Tax) After receiving recognition, a startup may apply for angel tax exemption. Acceptance of the Guidelines for the income tax exemption under Income Tax Act Section 56: •The target should be a startup that has been approved by the Department for Promotion of Industry and Internal Trade (DPIIT). •After the proposed share issuance, the Startup’s total paid-up share resources and share premium, if any, should not exceed INR 25 crore. 2. Self-Certification: •The three environmental regulations, six employers’ and labor laws, and one Self Certification are all compliant. •No audit or inspection will be made for the five years about the laws that were placed on the laborers. Any concerns, such as verified reports of violations against the firm, then it will amount to the inspection. State insurance laws for employee regulations pertaining to gratuities, provident funds, contract labor, other construction workers’ regulations, interstate migrant worker legislation, and expert advice are available from Startup India to help Self Certify compliance with labor laws.

4. 3. Patents: Startups will receive an 80% reimbursement for their patent filing costs; their patent applications will be reviewed to ensure they are eligible to receive the reimbursement and their value is realized as soon as possible. 4. Easily Exiting from the Company: •Within 90 days of filing for bankruptcy, startups with straightforward financial arrangements or those that fit specific income-designated models may be forced to close. The Startups, who will run the organisation, will be assigned a professional. The liquidator will be responsible for the quick shutdown of the company, asset sales, and lender repayments compliance of the startup with the IBC’s distribution waterfall. •The government is taking the initiative to promote company development since it benefits the Indian economy. This Startup program is beneficial to all people who have creative ideas but has insufficient fund to run a business. This Startup India Registration certificate can assist numerous unique ideas in expanding their businesses. The Startup India credential is required for anybody starting a business in any industry. This certification includes intellectual property rights like as trademark registration, patent registration, and copyright registration. It will also supply certain advantages with that credential that can help your new beginning firm. Hence it is very clear and evident that the Startup India registration certificate is very helpful.