Startup is a newly formed business, started by one person or by a group of individuals. A startup differentiates itself from other businesses by starting something new that does not exist in the market.
- Incorporate your business
You should first register your business as a private limited company or partnership firm or limited liability partnership. One must follow all required procedures like getting certification of incorporation, PAN, others.
- Register with startup India
The business must register as startup. This process can also be done online. You should visit Startup India website and fill the required forms, Once the forms are filled you will receive an OTP to your mail or phone number. Then enter the OTP on the website and fill the required details. After registration, we can learn about various state Govt policies for new businesses.
- You must get a DPIIT Recognition
This recognition will help the business to access high quality benefits like intellectual property services and resources, Relaxation in public protection rules.
- Getting registration application
Open> registration application details
Click on> view details
Fill startup registration form.
Press on submit.
- Documents to be uploaded for Registration
- Certificate of startup
- Details about the director
- Proof of your business.
- Patent details (if any)
- PAN number
- Immediately get the recognition number
After submitting the details, it takes about 2 days to get your startup recognition number.
Be careful while uploading documents because if any wrong documents or mistakes are found in the documents in the uploaded documents You will be liable to pay 50% of your paid-up capital of startup and a minimum fine of 25,000.
Startup are exempted from income tax for 3 years. The startup business which are registered on or after 1st April 2016 are allowed to apply for income tax exemptions.
Frequently asked questions:
Who can register under startup India?
A business that is registered under private limited company, Partnership or a limited liability company can incorporate under startup India program.
What are the benefits of signing up with startup India?
Startups are permitted to self-ensure their consistence for six work laws and three climate laws. This is taken into consideration an all-out time of a long time from the date of consolidation/enlistment of the business.
What kind of business structure should I choose for Startup?
The most preferred business for a startup is a private limited. A private limited business is legally recognized and usually favoured by the investors. However, this business model has very strict rules and may cost higher.
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