Startup India Scheme

Startup India Scheme

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Startup India Scheme

Startup India Scheme is an initiative of the Indian government, the primary objective of which is the promotion of startups, generation of employment, and wealth creation. It was launched on the 16th of January, 2016 by Prime Minister Narendra Modi at Vigyan Bhawan, New Delhi.

Features Of the Scheme

The following features make the scheme a stand-out factor:

  • New-entrants are granted a tax-holiday for three years.
  • The government has provided a fund of Rs.2500 crore for startups, as well as a credit guarantee fund of Rs.500 crore rupees.

Eligibility For Startup Registration     

  • The company to be formed must be a private limited company or a limited liability partnership.
  • It should be a new firm or not older than five years, and the total turnover of the company should be not exceeding 25 crores.
  • The firms should have obtained the approval from the Department of Industrial Policy and Promotion (DIPP).
  • To get approval from DIPP, the firm should be funded by an Incubation fund, Angel Fund or Private Equity Fund.
  • The firm should have obtained a patron guarantee from the Indian patent and Trademark Office.
  • It must have a recommendation letter by an incubation.
  • Capital gain is exempted from income tax under the startup India campaign.
  • The firm must provide innovative schemes or products.
  • Angel fund, Incubation fund, Accelerators, Private Equity Fund, Angel network must be registered with SEBI ( Securities and Exchange Board of India).

Register Your Company 

As have been observed, registration on startup portal can be done only through for the following firms:

  • Partnership Firm
  • Limited Liability Partnership Firm
  • Private Limited Company

Partnership Firm

Partnership firm is registered under the Partnership Firm Act. To start a partnership firm, the concerned parties have to draft a partnership deed where the terms and conditions of the partnership firm will be mentioned.  This partnership deed must be registered with the registrar of firms. We can help you with the formation of a partnership firm. For more details, click here.

Limited Liability Partnership Firm

A Limited liability partnership firm is registered under the LLP Act. Both partnership firm and LLP are very similar, but LLP has more in common with a private limited company like limited liability protection, transferability, etc. For more details on LLP registration, click here. 

Private Limited Company

The private limited company is the most popular type of legal entity in India. Know more about company registration here.

Application Procedure

Step 1: Log on Startup India Portal https://startupindia.gov.in/registration.php.

Step 2: Enter your Legal Entity.

Step 3 : Enter your Incorporation / Registration No.

Step 4 : Enter your Incorporation / Registration Date.

Step 5: Enter the PAN Number (optional).

Step 6: Enter your address, Pin Code & State.

Step 7: Enter details of the Authorized Representative.

Step 8: Enter the Details of  Directors and Partners.

Step 9: Upload the essential documents and Self – Certification in the prescribed manner.

Step 10: File the Incorporation / Registration certificate of the company.

Want to Consult a Incorporation Expert?

IndiaFilings provides the entire range of services required to register a business in India. We can help you register a Proprietorship, LLP, Indian company or USA company. Please provide your information to consult an Incorporation Expert for free.


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Comments (1)

Anuj Kumar

Dec 26, 2018 at 1:27 PM

Business

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