Startup Registration
Under the Startup India initiative, eligible companies can get recognized as Startups by DPIIT (Department for promotion of Industry and Internal Trade), in order to access a host of tax benefits (i.e.; tax exemption under section 80 IAC, 56, etc), easier compliance, IPR fast-tracking & more. GrowBizz helps in easy start-up registration and to avail various incentives and benefits available in this scheme.
The eligibility criteria for start-up recognition are as under:
- The Startup should be incorporated as a private limited company or registered as a partnership firm or a limited liability partnership
- Turnover should be less than INR 100 Crores in any of the previous financial years
- An entity shall be considered as a startup up to 10 years from the date of its incorporation
- The Startup should be working towards innovation/ improvement of existing products, services and processes and should have the potential to generate employment/ create wealth. An entity formed by splitting up or reconstruction of an existing business shall not be considered a “Startup”.
Documents required for Registration
- Register the business as a Private Limited Company / Limited Liability Partnership / Partnership Firm
- Copy of PAN card of the business organization
- MSME Registration for the business
- Make a brief writeup on the following:
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- What is the problem the startup is solving?
- How does the startup propose to solve this problem?
- What is the uniqueness of solution by the startup?
- How does the startup generate revenue?
- Details of any awards/recognition received by the startup
Disclaimer:
Additional details or information or documents other than mentioned in above list; may be called if required.