Startup India Certificate

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Startup India Certificate​

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Overview - Startup India Certificate

The Government of India, under the supervision of the Ministry of Commerce and Industry, launched the Start-up India Stand-up India programme in 2015 to elevate and grow Indian start-ups in order to enhance the Indian economy and stimulate entrepreneurship.

The Government of India’s flagship project, the Start-up India Scheme, aims to create a robust ecosystem for nurturing innovation and start-ups in the country, resulting in long-term economic growth and large-scale employment possibilities.

Only after receiving a Certificate of Registration from the Start-up India Hub at www.startupindia.gov.in will a business be recognised as a ‘Start-up’ under this scheme.

3 LAYERS OF STARTUP INDIA CERTIFICATE RECOGNITION
Issuance of Startup India
Certificate

After confirming the newly incorporated company’s unique business process and other eligibility criteria, DPIIT gives a Startup India certificate upon acceptance of an application.

Angel Tax Exemption on Equity Investment

If a startup is further approved by the Inter-Ministerial Board, an investment made on the premium by investors is tax deductible u/s 56(2)(viib) of the Income Tax Act.

This exemption is available till the total paid-up share capital plus share premium for the company does not reach INR 25 crore.

A startup must make a Form-2 declaration with DIPP to be eligible for the angel tax exemption.

Income Tax
Exemption

Out of a ten-year period, the startup will be eligible for a three-year tax vacation.

Startup must file a separate application under Form-1 for income tax exemption under Section 80-IAC, and the Income Tax Authority will either grant or deny the application.

This application can only be submitted when a Startup India Certificate has been issued.

DOCUMENT REQUIRED FOR STARTUP INDIA CERTIFICATE
Proof of Business Registration

The company’s certificate of incorporation or a partnership deed that has been registered.

Brief on Business Idea

Provide a brief description of your business’s revolutionary concept

Core Team

Details about the director are needed, such as their qualifications, role in the organisation, and so on.

Other relevant information

Regarding any funding received, Any IPR applied, if any, and number of employees including founders and their roles.

BENEFITS OF STARTUP INDIA CERTIFICATE
Tax exemption u/s 80 IAC

You may petition for tax exemption u/s 80 IAC of the Income Tax Act after receiving recognition under the Startup India scheme.

During the first ten years of startup eligibility, a startup can get a tax break for three years in a row.

Criteria for claiming the 80IAC tax break include:

Must be a well-known startup
Only Limited Liability Partnerships (LLPs) or Private Limited Companies (PLCs) are eligible.
Must be formed on or after April 1, 2016.

Angel Tax Exemption u/s 56

You can apply for Angel Tax Exemption after registering with Startup India.

Angel Tax Exemption Criteria u/s 56 of the Income Tax Act 1961:

The entity must be a DPIIT-recognized startup with a total paid-up share capital and share premium of not more than INR 25 crore following the planned share offering.
To get a copy of the government notice, go here.

Self-Compliance for Labour Laws

During the first three years, startups can self-assess their compliance with labour laws, and there will be no inspections or actual visits by government officials. Startups can self-certify with the 6 labour laws listed below through the Startup India portal.

Laws governing migrant workers from other countries
Laws on Gratuities and Provident Funds
Other Constructions Employees’ State Insurance Laws Laws governing workers
Laws governing contract labour
Our experts can help you self-certify your compliance with labour rules.

Trademark, Patent, IPR related exemption

After receiving a startup India certificate, businesses can get help registering for intellectual property rights like as trademark registration, patent registration, and copyright registration.

The following IPR benefits are available to recognised startups:

Fast-track startup patent applications with a discount of up to 80% on government expenses.
A group of facilitators will help with IP applications.
Reimbursement for the filing of a trademark application

Easy Winding Up of Company

Startups registered under the Startup India scheme can use the Insolvency and Bankruptcy Code, 2016, to wind up their businesses within 90 days if their business model fails.

Funding Opportunities & Other Government Schemes

Startups that are registered under the Startup India system are eligible for funding from a variety of government and semi-government programmes, including:

Venture Capital Assistance Program (VCAP)

Small Farmers’ Agribusiness Consortium (SFAC) provides an interest-free loan to projects that fall short of the money needed to complete the project.

MSMEs receive assistance in obtaining international patent protection in the fields of electronics and information technology.

At least one SC/ST borrower and at least one women enterprise every bank branch will receive a Stand Up India Scheme bank loan ranging from ten lakh to one crore.

Scheme for Single-Point Registration (SPRS)

MSEs are registered with NSIC under the SPRS system in order to participate in government purchases.

The following IPR benefits are available to recognised startups:

Fast-track startup patent applications with a discount of up to 80% on government expenses.
A group of facilitators will help with IP applications.
Reimbursement for the filing of a trademark application

THE VALIDITY OF STARTUP INDIA CERTIFICATE

After ten [10] years from the date of its incorporation/registration, an entity ceases to be a Startup.

OR

If its previous year’s revenue was more than one hundred [100] crore rupees.

Whichever comes first.

STARTUP INDIA CERTIFICATE VERIFICATION

When you apply for startup india registration, you will be given an acknowledgment receipt number (ARN) that you can use to follow the status of your certificate.

You can quickly download your Startup India certificate once your application has been processed successfully.

Steps & Procedures

Complete Roadmap of Process of Startup India Recognition

1

Fill the above Form and make the payment

2

Our Tax expert will reach you soon after query

3

Submit or Upload The Required Documents

4

Our Experts shall carefully examine criteria of startup recog. & file App.

5

Expert do follow up with the govt. department for issuance of SIC

6

Startup India Registration certificate Will be send by mail.

Frequently Asked Question

What is Startup India Hub?

Startup India Hub is a one-stop platform for all stakeholders in the Startup ecosystem to interact amongst each other, exchange knowledge and form succesful partnerships in a highly dynamic environment.

 

How do investors add value to startups?

Investors particularly venture capitalists (VCs) add value to startups in a lot of ways:

1. Stakeholder Management: Investors manage the company board and leadership to facilitate smooth operations of the startup. In addition, their functional experience and domain knowledge of working and investing with startups imparts vision and direction to the company.

2. Raising Funds: Investors are best guides for the startup to raise subsequent rounds of funding on the basis of stage, maturity, sector focus etc. and aid in networking and connection for the founders to pitch their business to other investors.

3. Recruiting Talent: Sourcing high-quality and best-fit human capital is critical for startups, especially when it comes to recruiting senior executives to manage and drive business goals. VCs, with their extensive network can help bridge the talent gap by recruiting the right set of people at the right time.

4. Marketing: VCs assist with marketing strategy for your product/service.

5. M&A Activity: VCs have their eyes and ears open to merger and acquisition opportunities in the local entrepreneurial ecosystem to enable greater value addition to the business through inorganic growth.

6. Organizational Restructuring: As a young startup matures to an established company, VCs help with the right organizational structuring and introduce processes to increase capital efficiency, lower costs and scale efficiently.

Why do investors invest in startups?

Investing in startups is a risky proposition, but the low requirement for overhead capital combined with high upside potential, makes it lucrative for investors to put their bets on startups.

The Thomson Reuters Venture Capital Research Index replicated the performance of venture capital industry in 2012 and found that overall venture capital has returned at an annual rate of 20% since 1996 – far outperforming modest returns of 7.5% and 5.9% from public equities and bonds respectively.

 

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