The word Startup has become a common term for every entrepreneur out there. The rapid growth of many startups has given them an affiliated status. To boost the Indian economy and to encourage entrepreneurship. The Government of India, under the administration of the Ministry of Commerce & Industry, has begun the Start-up India initiative. So, here we have an article for all the entrepreneurs, where they can know about startup registration certificate and can also enjoy the services your startup needs for perfect growth.
Startup Registration in India:
The meaning of startup is quite simple. It is a freshly established business started by a person or a group of individuals. Startups can also be considered as “a company that is in the first stage of its operations. These companies are often initially bankrolled by their entrepreneurial founders. They attempt to capitalize on developing a product or service for which they believe there is a demand.”
The Startp India plan was brought by Prime Minister Modi to develop the economy of India and draw the attention of talented entrepreneurs.
Who is not eligible for Startup India Certificate:
- Firm constitute by the notary partnership deed.
- Once annual turnover exceeds INR 100 crores.
- Sole Proprietorship.
- And if the company is older than 5 years.
Below are some points giving an idea of the eligibility criteria for the Startup India Certificate:
- The Startup should be a Private Company, Registered Partnership firm, or a Limited liability partnership.
- The business must be involved in a new service.
- The company should not be older than 5 years.
- The business formed out of splitting an organization will not be eligible under the startup scheme.
- The startup should attain approval from DIPP that the business is innovative and unique. The annual turnover should not be more than 25 years.
The documents you need to provide us for the startup registration certificate are enlisted below:-
- Certificate of Incorporation / Registration Certificate and PAN (Permanent Account Number).
- Company Details i.e. Industry, Sector, Category, Regd. Office Address etc.
- The uniqueness of the Product as well as it’s Revenue Model.
- Valid Email ID and Mobile number.
- Concise information on products and services of the business and notes on innovative and unique ideas.
- Directors/Partners Details that include Name, Photo, Gender, Mobile No. Email ID, Full Address.
- Details of Authorised Representative ( Name, Designation, Mobile No. Email ID).
- And anyone from these options- Website/Pitch Deck/Video /Patent.
Startup Registration Cost:
Want to start a business, but too stressed by all the legal requirements for setting up a company? No worries, as we are there to help you out efficiently with all the procedures at a very economic price. Get your startup registration only in Rs.2999/-
The process under the startup scheme is long and tiring as well as time-consuming. We at Businessrights are there to provide you with all the services needed for the startup scheme.
Our expert team will do everything required so that you can focus on the unique and innovative ideas for your startup. For this, you just need to provide us with all the necessary legal documents, and the rest will be taken care of.
Startup Registration Certificate for MSME:
MSME enterprises are the backbone of any company and promote startups through various subsidies, schemes, and incentives. There are many benefits under MSME registration that startups should not miss. It can provide a range of benefits to startups such as:-
- Eligibility for a lesser rate of interest.
- Capital investment subsidies.
- Tax subsidies.
- Excise exemption scheme.
- Power tariff subsidies.
MSME stands for micro, small and medium enterprises and any other enterprise that falls under any of these three categories.
Startups in India are focused on employing technology to bring great experiences to clients. It mainly evolves towards India’s economy, profitability, and greater penetration in rural areas; entrepreneurs can register as MSME’s to grow faster and increase the user base with innovative ideas.
Entities that can benefit under MSMED ACT OR MSME registration:
- partnership firms,
- LLP’s
- Proprietorship firms
- Public Limited Companies
- Private Limited Company’s
Startups and MSMEs are similar invisibility and credits but are different in terms of business setup, technology, funding opportunity, and customer base. This is where a huge opportunity lies for them to work together and meet each other’s specific needs.
Main Benefit of Startup Company Registration- Tax Exemption:
The startups have numerous tax exemptions under the startup scheme enforced by the Government of India. We have mentioned here some of the important tax exemptions:
- The Startup is eligible for getting a 100% tax rebate on profit for 3 years in a block of 7 years. Provided that annual turnover does not exceed Rs 25 crores in any financial year.
- Tax exemption to Individual/HUF on investment of long-term capital gain in equity shares of Eligible Startups u/s 54GB.
- The government has exempted the tax being levied on investments above the fair market value in eligible startups.
- Set off of carrying forward losses and capital gains allowed in case of a change in Shareholding pattern.
- Exemption from tax on long-term capital gains. The maximum amount that can be invested in the long-term specified asset is Rs 50 lakh and it will remain invested for 3 years. If withdrawn before 3 years, then the exemption will be revoked in the year in which money is withdrawn.
For any inquiry regarding startup registration certificate, you can call us or click here.
FAQ on Startup registration in India:
Q. What is a Letter of support in Startup-India Registration?
- It is a document submitted with the enrolment form for Startup-India Registration for tax exemption.
Q. What is a startup and how is it different from MSMEs?
- The startup is a company that has been registered not more than 5 years. And has an annual turnover not exceeding INR 25 CR in any preceding financial year. And the most important thing startups should take care of is the innovation and uniqueness of their products and services.
Q. Do you provide this service in my town?
- Yes, BusinessRights is an online platform that serves people all over India. Your physical presence is also not important. All you need is an internet connection on your mobile phone or laptop and we are here to do your job.
For any inquiry, you can call us or click here.