Startup India Scheme

Here’s What You’ll Need

Get ready with the below documents & lets get started.

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• Complete profile verification details for the director
• Number on PAN card
• Written evidence pertaining to your official website, link, or pitch deck. Validation, speaking, early traction, or a staged startup are all required.
• Certificate of Incorporation or Registration of a Startup
• Information on patents and trademarks.
• Articles of Association/Incorporation for a Trademark
• Non-Disclosure Agreement (NDA) (NDA)
• Employee agreements and offer letters
• Bylaws of the shareholders' agreement
• Assignment of intellectual property agreements
• Founder/Co-Founder contract
• Pitch deck/Business plan

Did you know?

Regarding the age of the company, the duration of existence & operations must not exceed ten years from the date of incorporation.

GST Registration is required for Startups in many cases.

An Overview about Startup India Scheme

The Startup India Scheme is a government of India initiative aimed at encouraging the development and innovation of products and services, as well as the creation of job prospects across the country. One of it's scheme's objectives has been to simplify how to enroll a startup in India by minimising unnecessary regulations and allowing them to focus on what is important while retaining compliance costs low, as well as to provide multiple benefits in addition to the massive networking opportunities provided by the Government of India's bi-annual startup festivals held both domestically and internationally.

Benefits of Company Registration Online Using Zolvit

• Income Tax Advantages

  Startups nowadays are exempt from income tax for 3 years from the date of incorporation. If they are certified and used by the Inter-Ministerial Board of Certification. Furthermore, after receiving recognition first from DPIIT (Department for Promotion of Industry and Internal Trade), and if the startup's total paid-up share capital and share premium just after proposed granting of shares, if any, doesn't really exceed INR 25 Crore, the startup will be exempt from capital gains tax under Section 56 of the Income-tax Act, 1961-2014.

• Financial Advantages

  Startups receive an 80 percent discount on patent IPR fees and a 50 percent rebate on trademark IPR costs from the government, and government-provided facilitators work actively to help startups defend and commercialise their IPRs. The IPR application review and decision-making processes are also expedited. The facilitators' fees will also be covered by the government.

• Benefits of Registration

  Due to the rigorousness of the procedures, incorporation and registration are still seen as being more challenging than actually operating a firm in India, where startup registration is still incredibly complicated. A problem-solving window is being offered by the government under the initiative, and the Startup India Hub, a platform to foster networking opportunities and help for companies, has been launched.

• Regulatory Advantages

  Startups are permitted under the Startup India Scheme to self-certify compliance for three environmental regulations and six labour laws using a straightforward online process. No inspections of labour laws will be carried out for a period of five years unless a credible and verifiable complaint of a violation has been made, submitted in writing, and confirmed by a representative which is at least one level above the inspecting officer. Startups that fit under the 'white category' (as the Central Pollution Control Board defines it) for environmental standards would be able to self-certify compliance, and only random checks would be made in such circumstances.

• Benefits of Public Procurement

  You can register as a seller on the Government of India's e-procurement portal, the Government e-Marketplace, and gain access to all Government of India Ministries/Departments/Public Sector undertakings once your startup has received certification from the Inter-Ministerial Board of Certification and a DIPP (Department of Industrial Policy and Promotion) number has been given to you. This is subject to your ability to meet quality and technical requirements. Additionally, certified startups would be eligible for exemptions from the requirements for prior turnover and experience, as well as the earnest money deposit in your offer.

Checklist under the Startup India Scheme

• An organisation will be eligible under the scheme if
• It was established in India as a private limited company, a partnership firm, or a limited liability partnership.
• Less than ten years have passed since the company's establishment or registration.
• Since incorporation/registration, its annual revenue has never exceeded INR 100 crores.
• It ought to have a DIPP number.
• It is financed by a private equity, angel, or incubator fund that is authorised to do business in India by the Securities and Exchange Board of India (SEBI)
• A patron guarantee has been received from the Indian Patent and Trademark Office.
• It has a letter of recommendation from an incubator.
• Income tax is not applied on capital gains.
• If it is a scalable business model with a strong potential for creating income or new jobs, it is working toward the innovation, development, or improvement of goods, processes, or services.