An Overview of Startup India Registration

The Government of India in 2016 declared the Startup India initiative to give favourable conditions to the startups in India. The main intention of the Startup India initiative is to facilitate the business environment by supporting innovation and startups in India. With the help of this endeavour, the Government of India is anticipating an improvement in the employment opportunities and sustainable economic development in India.

Our team at Taxrepair has a considerable amount of collective experience behind them and is well-versed with the rules and regulations governing the Startup India Registration.

Document Required for Startup India Registration

For Directors or Shareholders

• PAN Card scanned copy (Self-Attested & Mandatory)
• Self-attested copy (for ID Proof):
• Aadhar card
• Passport
• Voters ID
• Driving license
• Self- attested copy (Not older than two months, preferably the latest one) (used for Address Proof):
• Latest bank statement
• mobile or telephone bill
• gas or electricity bill
• Four Passport Size Photographs

For Registered Office

• The latest No-objection certificate scanned copy from the property owner if the registered office is on leased or rented property.
• The scanned copy of the rental agreement if the registered office is on leased or rented property
• Self-attested copy (Not older than two months, preferably the latest one) (used for Address Proof):
• Latest water bill
• mobile or telephone bill
• gas or electricity bill

Apart from the documents mentioned above, one must submit additional documents required for Startup registration.

• Registration/Incorporation Certificate of the startup
• Directors Details viz, Name, Photo, Gender, Mobile No. Email ID, Full Address
• Details of Authorized Representative (Name, Designation, Mobile No. Email ID)
• A Brief about the business and its products or services and comments on the scope of innovations, employment, and wealth creation.
• Concept Proof of the business like pitch deck/website link/video (in case of a validation liarly traction/scaling stage startup)
• Details of the Trademark/Patent (Optional)

Benefits of Startup India Registration

Taxation Benefits

A company registered under the startup India scheme is exempted from tax for three consecutive financial years from the date of incorporation. The company gets the exemption benefits under section 80IAC and section 56 for Angel Tax relief.

Ease in Registration

The Government of India has made the registration process of Startup India relatively smooth with the help of the website and a mobile app. The applicant has to fill in the details on a simple form and upload the required documents to complete online registration.

Apply for Government Tenders

By registration of startups, the entities are allowed to participate in Government tenders. Furthermore, they have been exempted from previous experience, EMD or the Turnover criteria applicable for non-startups while participating in Government tenders.

Exit Benefits

The process of winding up a Startup is simple compared to other business structures; this is done through an appointment of an insolvency professional, which helps in fast-tracking the closure, and assisting in the sale of goods and paying off the creditors.

Government Funding Opportunity

The Government of India has allocated a 10,000 crores rupees fund with the purpose of investing in startups. All the startups are qualified for applying for funds from this allocation. Furthermore, the Government of India gives guarantees to the official lenders to motivate the various financial institutions and banks to provide funds to the startups.

Timelines for Startup India Registration

We are one of the experienced firms for assisting in the Startup India Registration. With the help of our professional and expert team, we ensure that the registration process is seamless. The startup India registration process is mainly done online, and the time taken for the final registration depends upon the approvals and acknowledgement from the concerned officials.

Allow us to be part of the beginning of your entrepreneurial journey and contact our team of experts for consultation.