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Startup registration

Under the Startup India Scheme, eligible companies can get recognized as Startups by DPIIT, in order to access a host of tax benefits, easier compliance, IPR fast-tracking & more. Most of the startup companies are focused on increased revenues and maximized profits by various methods. However, the initial stage involves bootstrapping their organizations out of their hard-earned money. One of the ways to grow earnings is to reduce the cost. Government retains 30% of our income in form of tax which leads to higher cost. A startup is any small business commenced with the objective to solve a problem operated by the founder or a single person.

Eligibility criteria for Startup recognition

  • An entity shall be considered as a Startup up to a period of ten years from the date of incorporation or registration, if it is incorporated as a private limited company or registered as a partnership firm or a limited liability partnership in India.
  • Turnover should not exceed INR 100 crore in any of the financial years since incorporation / registration.
  • Entity should be working towards innovation, development or improvement of products or processes or services, or it should be a scalable business model with a high potential of employment generation or wealth creation.

An entity formed by splitting up or reconstruction of an existing business shall not be considered a Startup.

Considering the above, if you are an eligible entity to register as a startup, you can see the steps to register under DIPP.

In the course of business, startups, like any other business entity, can rely heavily on specific intellectual property (IP) rights, and especially one that aspires to cater to a global market, should ensure that its intellectual properties are adequately protected. There are several intellectual property benefits which can be availed under startup registration.

In addition to above, a startup can also avail tax benefits by registering with startupindia.org.