{"id":1766,"date":"2021-01-30T05:44:58","date_gmt":"2021-01-30T05:44:58","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=1766"},"modified":"2021-01-30T05:45:30","modified_gmt":"2021-01-30T05:45:30","slug":"startup-india-scheme-registration-and-benefits","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/","title":{"rendered":"Startup India Scheme \u2013 Registration &#038; Benefits"},"content":{"rendered":"\n<p>A startup is a business which is newly established small business started by one or more entrepreneurs to offer new products or services that are not being provided elsewhere in the same way. The startup is differentiated from the others on the basis of innovation, modernisation and strangeness. Startup India scheme is very popular in India. It is promoted to give recognition to the stratups. This article will discuss about the Startup India Scheme and its registration and benefits. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a8fd548db4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a8fd548db4\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Startup_India_Scheme\" title=\"Startup India Scheme\">Startup India Scheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#What_do_you_understand_by_the_term_Startup\" title=\"What do you understand by the\nterm Startup? \">What do you understand by the\nterm Startup? <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Benefits_of_Startup_India_Scheme\" title=\"Benefits of Startup India Scheme\">Benefits of Startup India Scheme<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Easy_Process\" title=\"Easy Process\">Easy Process<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Self_Certification\" title=\"Self Certification \">Self Certification <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Easy_access_to_funds\" title=\"Easy access to funds\">Easy access to funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Cost_reduction\" title=\"Cost reduction\">Cost reduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Easy_public_procurement_norms\" title=\"Easy public procurement norms \">Easy public procurement norms <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Tax_exemption\" title=\"Tax exemption\">Tax exemption<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#No_time_consuming_compliances\" title=\"No time consuming compliances\">No time consuming compliances<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Research_and_Development_benefits\" title=\"Research and Development benefits\">Research and Development benefits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Easy_winding_up_of_the_company\" title=\"Easy winding up of the company\">Easy winding up of the company<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Startup_India_Registration\" title=\"Startup India Registration \">Startup India Registration <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Documents_required_to_be_uploaded_for_Startup_Registration\" title=\"Documents required to be\nuploaded for Startup Registration \">Documents required to be\nuploaded for Startup Registration <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/swaritadvisors.com\/blog\/startup-india-scheme-registration-and-benefits\/#Conclusion\" title=\"Conclusion \">Conclusion <\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Startup_India_Scheme\"><\/span>Startup India Scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Startup\nIndia scheme is the initiative brought by the government of India to build a\nstrong business growth and generate employment opportunities and wealth\ncreation. This scheme has initiated many programs for building a strong\necosystem and helping India to transform into a country of job creators instead\nof job seekers. The Startup India Scheme is managed by the <strong><em>Department for Promotion of\nIndustry and Internal Trade (DPIIT)<\/em><\/strong>. The aim of this scheme is to\nempower the growth of the startup through innovation. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_do_you_understand_by_the_term_Startup\"><\/span>What do you understand by the\nterm Startup? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A startup is an entity which is founded by one or group of individuals to offer those products and services in the market which are different and unique from the others. Through the notification issued by the Department for Promotion of Industry and Internal Trade (DPIIT) on February 19, 2019, provided the definition of a startup. Any of the companies which fall into the list of a category will be called \u201cStartup\u201d and be eligible to be recognized by the DPIIT to get the benefits from the govt of India. <\/p>\n\n\n\n<ul><li>Age of the Company- the Incorporation date should not exceed <strong><em>10 years<\/em><\/strong>. <\/li><li>Type of Company- the company should be registered as a Partnership firm or a <strong><a href=\"https:\/\/swaritadvisors.com\/limited-liability-partnership-registration\" class=\"text-primary\">limited liability partnership<\/a><\/strong> or incorporated as a private limited company. <\/li><li>Original entity- the entity must be formed originally by the promoters and should not have been formed by splitting up or building and forming again an existing business. <\/li><li>Annual Turnover- the company should not exceed <strong><em>Rs. 100 crore<\/em><\/strong> for any of the financial years since the day of its incorporation. <\/li><li>Innovative and able to change business scale- the company must plan for the improvement and development of the products and services and should have a scalable business model with much potential for the creation of employment and wealth. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Benefits_of_Startup_India_Scheme\"><\/span>Benefits of Startup India Scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/infographics-without-heading-1-1.png\" alt=\"Startup India Scheme benefits\" class=\"wp-image-1770\" width=\"985\" height=\"328\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/infographics-without-heading-1-1.png 985w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/infographics-without-heading-1-1-300x100.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/infographics-without-heading-1-1-768x256.png 768w\" sizes=\"(max-width: 985px) 100vw, 985px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Easy_Process\"><\/span>Easy Process<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A mobile app and\na website have been launched by the government of India for easy registration\nfor all the startups. Any business can set up a startup by filling a simple\nform on the website and by uploading all the required documents. The entire\nregistration process is completely online. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Self_Certification\"><\/span>Self Certification <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Startups\nunder the scheme are allowed to self certify their compliance under <strong><em>6\nlabour laws<\/em><\/strong> and <strong><em>3 environmental laws<\/em><\/strong>. Such\ncertification is allowed for a period of <strong><em>5 years <\/em><\/strong>from the date of the\nincorporation of the entity. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Easy_access_to_funds\"><\/span>Easy access to funds<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The government\nhas set up <strong><em>10,000 crore rupees<\/em><\/strong> fund to provide it as venture capital to\nthe startups. The guarantee is also given by the government to the lenders to\nencourage the banks and other financial institutions for providing with the\nventure capital. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cost_reduction\"><\/span>Cost reduction<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A list of facilitators of trademarks and patents is provided by the government. It provides high-quality intellectual property right services including the fast examination of patents at the lower fees. The startup has to bear all the statutory fees and the government will bear all the facilitator fees. Therefore, the startup enjoys the <strong><em>80% reduction in the cost of filing patents<\/em><\/strong>. Rendering <strong><em>50% rebate on the trademark filing<\/em><\/strong> when compared with other companies. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Easy_public_procurement_norms\"><\/span>Easy public procurement norms <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Startups can apply for government tenders. They are exempted from the criteria of \u201cprior experience\/turnover\u201d which is applicable for other companies answering to the government tenders. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tax_exemption\"><\/span>Tax exemption<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Startups are exempted from income tax for <strong><em>3 years<\/em><\/strong> provided that they get certification the Inter-Ministerial Board (IMB). <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"No_time_consuming_compliances\"><\/span>No time consuming compliances<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The people who\nare investing their capital gains in the venture funds which are set up by the\ngovernment shall get exempted from capital gains. This allows the startups to\nattract more and more investors. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Research_and_Development_benefits\"><\/span>Research and Development benefits<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The startup\nIndia research and advocates innovation between those who project themselves as\nentrepreneur in the near future. The government is committed in establishing\nseven new research parks for the research and development of the products. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Easy_winding_up_of_the_company\"><\/span>Easy winding up of the company<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Startups which\nare also known as fast track firms can be winded up <strong><em>within 90 days (3 months)<\/em><\/strong>\nas against the 180 days for the other companies. Further, an appointment for\ninsolvency professional shall be done for liquidating the assets and paying to\nthe creditors. This shall be done within 6 months of filing an application to\nbe allowed for such an exit. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Startup_India_Registration\"><\/span>Startup India Registration <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Firstly, is it necessary for a business to incorporate as a Partnership Firm or Private Limited Company or Limited Liability Partnership. All the procedures for registration of any business is required to be followed like obtaining incorporation certificate\/partnership registration, PAN Card and other required compliances.<\/p>\n\n\n\n<p>The startup\nIndia registration can be done on the website by following the simple process:\n&#8211; <\/p>\n\n\n\n<ul><li>The applicant is required to click on the \u201cRegister\u201d and fill all the details necessary in the registration form. An OTP shall be sent to the registered email address of the applicant, submitting on which a profile will be created. <\/li><li>The applicant shall be given an option to select the profile type. The profile goes under moderation for <strong><em>24 to 48 hours<\/em><\/strong> for startups and post which the applicant is able to get all the benefits. <\/li><li>For those startups having a profile on the Startup India website are considered as registered startups on the portal. And such startups can apply for acceleration, mentorship\/ incubator programmes and other availabilities on the website along with getting access to resources like learning and developing a program, state policies for startups, government schemes and pro- Bono services. <\/li><li>Once the profile is created, the startups get recognition from the Department for Promotion of Industry and Internal Trade (DPIIT) which helps them to avail many benefits. <\/li><li>The Recognition Application Detail page shall be opened and by clicking on view details under the registration detail section the applicant is required to fill startup recognition form and click on submit. <\/li><li>On applying the applicant shall get a recognition number for his startup and the certificate of recognition will be issued once the documents are examined, which is usually done in <strong><em>2 days<\/em><\/strong> on submitting the details online. <\/li><li>The startups are required to <strong>apply at<\/strong><sup><a class=\"text-primary\" href=\"https:\/\/www.startupindia.gov.in\/\"><strong><em>[1]<\/em><\/strong><\/a><\/sup> to avail benefits under the Startup India Scheme.&nbsp; <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_required_to_be_uploaded_for_Startup_Registration\"><\/span>Documents required to be\nuploaded for Startup Registration <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Certificate of the Incorporation of the startup. <\/li><li>Details of all the directors. <\/li><li>Proof of concept like a website link, video, in case of validation a scaling stage startup, early traction etc. <\/li><li>PAN number.<\/li><li>Details of Trademark and Patent. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The setting up of startups is highly encouraged by the government and there are many benefits that are enjoyed by them. Startup India Scheme and its registration and benefits are discussed above in the article and this scheme is an initiative of the government of India to build and grow the strong startup business which in turn would help in the growth of the economy and generate large employment opportunities in India.<\/p>\n\n\n\n<p><b>Also, Read:<\/b> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/annual-compliance-for-an-unlisted-company-in-f-y-2020-2021\/\">Annual Compliance for an Unlisted Company in F.Y. 2020-2021<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A startup is a business which is newly established small business started by one or more entrepreneurs to offer new products or services that are not being provided elsewhere in the same way. The startup is differentiated from the others on the basis of innovation, modernisation and strangeness. Startup India scheme is very popular in [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1767,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[305],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1766"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=1766"}],"version-history":[{"count":10,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1766\/revisions"}],"predecessor-version":[{"id":1779,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1766\/revisions\/1779"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/1767"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=1766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=1766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=1766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}