A Startup is an Initial Stage of Business founded to develop a Unique Nature of Products and Services. Nowadays Government of India provides various schemes and many benefits for startups, which is registered under Start-Up India Scheme.
Start-Up India Scheme
Start-Up India Scheme is a Government Initiative for startups launched on 26thJanuary 2016 for the development and innovations of Products and Services and to increase the employment rate in India. For Start-Up India Scheme benefits, you have to get recognized by DPIIT.
DPIIT stands for DEPARTMENT FOR PROMOTION OF INDUSTRY AND INTERNAL TRADE under the Ministry of Commerce and Industry in India. If Startup in India wants benefits under Start-up India Scheme, the same will needed to get recognized by the DPIIT Department.
Registration under Start-Up India Scheme
For Start-Up India scheme benefits, startups must needed to be a Private Limited Company, Partnership Firm or a Limited Liability Partnership and startup get registered under this scheme by submitting their application through Government Website of Startup India. At First Authorized Representative of the Entity should create Login Id and Password for their Entity and after that, Authorized Representative will able to access DPIIT Recognition form.
Details Required For DPIIT Recognition
After Successful login, User can access DPIIT recognition form and in the Form user should fill all the details mentioned below:
1. Entity Details
2. Full Address of the Entity
3. Authorized Representative
4. Directors/ Partners Details along with Address and Mobile Number
5. Details about any intellectual Property like trademark, patent, copyright, design under the name of entity.
6. Brief Details about the Business whether the Business is Product, Service or Process
7. Brief Details about the Uniqueness and Activities of the Start-Up
8. Self-Certification along with Certificate of Incorporation and Authorization Letter for the Authorized Representative of the Entity
After filling, all the details submit the application of DPIIT Recognition. If the Department have any query regarding your application, start-up or activity. User will get a mail for submit the clarification within Prescribed time. Moreover, if the Department is fully satisfied with your application they will issue the Certificate of Recognition.
Process after Start-up Recognition
Certificate of Recognition includes the certificate number from which you can download Certificate online through start-up India website. After the Recognition Start-up can start availing Government Benefits under this scheme and they can also apply for FORM 80-IAC, FORM 56 on the start-up India website.
Start-Up India Benefits
1. Start-ups can avail Self Certification benefits for 6 Labour Laws and 3 Environment Laws
2. Start-ups can avail a rebate upto 80% on Intellectual Property like Trademark, Patent Registration and More.
3. Start-ups can apply for Government Tenders
4. Start-ups can avail Tax Benefits for upto 3 Years if the Turnover has not extended to 100 Crores.